Wednesday, July 9, 2025
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
K-POP NEWSWIRE
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL
No Result
View All Result
K-POP Newswire
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL
No Result
View All Result
K-POP Newswire
No Result
View All Result
Home TOP STORIES

HYBE Chairman Bang Si Hyuk Risks Life in Prison for Alleged Multi-Billion Won Fraud

Hina Ejaz by Hina Ejaz
28 May 2025
in TOP STORIES
0
HYBE Chairman Bang Si Hyuk
85
SHARES
1.4k
VIEWS
Share on FacebookShare on TwitterWhatsApp

Bang Si Hyuk, the chairman of HYBE, the company behind global superstars BTS, is facing some serious accusations. South Korea’s financial watchdog, the Financial Supervisory Service (FSS), is looking into whether he cheated during HYBE’s stock market debut (IPO) a few years ago.

You might also like

Here’s When SEVENTEEN’s Hoshi and Woozi Will Enlist and Complete Their Military Service

BLACKPINK Starts ‘Deadline’ World Tour Strong With 78,000 Fans in Attendance

BLACKPINK Kicks Off ‘DEADLINE’ World Tour in Goyang With New Song ‘Jump’ and Massive Crowd

On May 28, Korea Economic Daily reported that they intend to request prosecution to investigate Bang for alleged fraudulent and unfair trading. 

As per the report, FSS has secured solid evidence that in 2019, he told existing investors that HYBE had “no plans for an IPO.” But at the same time, he allegedly sold his own shares to a special investment fund PEF, managed by someone he knew.

While he told shareholders there was no plan to go public, it is believed Bang Si Hyuk was actually planning the IPO. The FSS says HYBE signed with Hanyoung Accounting Corporation for a special audit in November 2019, which is a required step before a company can go public. 

When applying for a designated auditor, they presented documents indicating plans for a listing, such as agreements with lead managers or board resolutions. However, in communications with existing investors, they conveyed a different story, stating that they had no plans for a listing. 

The eyebrow-raising part is that Bang Si Hyuk supposedly had a secret deal with this investment fund. He was set to get 30% of their profits from the investment, and he reportedly pocketed around 400 billion won ($291 million). This contract was never mentioned in the official papers when HYBE went public.

The Financial Supervisory Service has deemed Hive’s listing events as fraudulent and unfair under the Capital Market Act, planning to swiftly report them to prosecutors. The Seoul police are also probing the case.

HYBE, on the other hand, says that everything they did was legal and reviewed by lawyers. An official claims, “All transactions were conducted within legal boundaries after thorough legal review.”

If Bang Si Hyuk is found guilty, he could face a very harsh penalty. According to the Capital Market Act’s Article 443, if illegal gains surpass 5 billion won, the sentence can be life imprisonment or at least 5 years in prison.

Financial authorities are reportedly planning a tough response, considering the case’s broader impact and symbolic significance in the capital market.

Source

Tags: Bang Si HyukHYBE
Share34Tweet21Send
Hina Ejaz

Hina Ejaz

Recommended For You

SEVENTEEN's Woozi and Hoshi during the promotions during single album 'BEAM'
TOP STORIES

Here’s When SEVENTEEN’s Hoshi and Woozi Will Enlist and Complete Their Military Service

by Rowhaan
8 July 2025
BLACKPINK members Lisa, Rose, Jisoo, and Jennie at Deadline concert in Goyang
TOP STORIES

BLACKPINK Starts ‘Deadline’ World Tour Strong With 78,000 Fans in Attendance

by Shumaila Ejaz
6 July 2025
BLACKPINK at the opening night of their 'Deadline' world tour in Goyang, South Korea
TOP STORIES

BLACKPINK Kicks Off ‘DEADLINE’ World Tour in Goyang With New Song ‘Jump’ and Massive Crowd

by Hina Ejaz
5 July 2025
Ju Haknyeon in a teaser for 'Trigger'
TOP STORIES

Former THE BOYZ Member Haknyeon Cleared of Prostitution Charges Due to Lack of Evidence

by Rowhaan
2 July 2025
Hyeri and Wootae
TOP STORIES

Hyeri and Dancer Wootae Rumored to Be Dating — Agency Refuses to Comment

by Shumaila Ejaz
1 July 2025
Next Post
BTS j-hope at HOPE ON THE STAGE concert

j-hope to Drop New Single “Killlin’ It Girl” (ft. GloRilla) on BTS’ 12th Debut Anniversary

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • BTS
  • ENTERTAINMENT
  • FASHION
  • GLOBAL
  • KDRAMA
  • KPOP
  • TOP STORIES
  • TOURS
Facebook Twitter Instagram Pinterest Whatsapp

K-Pop Newswire

Catch the freshest K-pop news, K-drama updates, fashion trends, and entertainment buzz. From BTS to the latest fashion hits, K-Pop Newswire covers it all.

Categories

  • BTS
  • ENTERTAINMENT
  • FASHION
  • GLOBAL
  • KDRAMA
  • KPOP
  • TOP STORIES
  • TOURS

Useful Links

  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Copyright © 2024 K-Pop News Wire | All Rights Reserved.

No Result
View All Result
  • Home
  • TOP STORIES
  • BTS
  • KDRAMA
  • KPOP
  • ENTERTAINMENT
  • FASHION
  • TOURS
  • GLOBAL

Copyright © 2024 K-Pop News Wire | All Rights Reserved.