Hybe chairman faces probe over alleged fraudulent trading ahead of BTS comeback
As global titan group BTS gears up for its long-awaited full-group comeback later this year, the group's agency, Hybe, is under intense scrutiny. Founder and hairman Bang Si-hyuk is reportedly being investigated by South Korea's financial watchdog for alleged fraudulent and unfair trading.According to Korean media reports, the Financial Supervisory Service (FSS) has been probing Bang Si-hyuk's actions during Hybe's pre-IPO phase in 2019. Investigators suspect that he misled institutional investors by downplaying the likelihood of a public listing — all while preparing for it behind the scenes. He is also alleged to have entered into a profit-sharing deal with private equity funds linked to his acquaintances, reportedly earning around 400 billion won (approximately $290 million) after Hybe's blockbuster IPO in 2020. The arrangement was never officially disclosed — a possible violation of capital market laws.advertisementWhile FSS has not issued formal statements confirming the investigation, Hybe representative apparently replied to a query on the same with Xports News. They were quoted stating, "We cooperated with the investigative authorities' request to provide data regarding the actions of a former employee who resigned."
Meanwhile, reports suggest the case may be fast-tracked to prosecutors, with a separate police probe already in progress.For BTS fans, the timing couldn't be more delicate. The group's full reunion is expected once all seven members complete their mandatory military service, with Suga set to be discharged by June 21. Jin and J-hope have already returned, while RM and V will finish service on June 10, and Jimin and Jungkook on June 11.Meanwhile, Hybe has reiterated that new music and performances are in development. CEO Park Ji-won said in March that the members would need time to regroup creatively, but a comeback is firmly on the cards.Must Watch
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