koreatimes.co.kr

HYBE Chairman Referred to Prosecutors Over Alleged Shareholder Deception

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Sig4.60Sen-6.30Env0.00Soc-2.00Gov-8.60

Seoul police referred HYBE chairman Bang Si-hyuk to prosecutors over allegations that he deceived early investors before the firm’s IPO, prompting them to sell stakes via a private-equity-linked special purpose vehicle. Authorities estimate improper gains at nearly 200 billion won. Police did not seek an arrest warrant, citing a continuing probe after prosecutors demanded supplementary investigations. Bang denies wrongdoing and says the listing followed rules.

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