BTS Agency HYBE Founder Bang Si-Hyuk Appears Before Seoul Police In ₹32.7 Crore Fraud Case

HYBE’s founder and chairman, Bang Si-hyuk, appeared for the first time since the fraud case began as he arrived before Seoul police on Tuesday morning for questioning over the ongoing investigation into alleged stock manipulation by him.

Why did HYBE’s Founder appear before the Seoul police?

According to Kedglobal, BTS agency founder Bang Si-hyuk spoke to reporters after arriving at the Seoul Metropolitan Police Agency and denied any wrongdoing. He said, “I am deeply sorry for causing concerns”, and promised to cooperate fully with the investigators.

As reported by allkpop, Bang faces allegations of fraudulent and unfair trading under the Capital Markets Act.

The financial watchdog claims Bang misled investors by denying plans for an IPO, which led them to sell their HYBE shares to a private equity fund (PEF) linked to him. At the same time, HYBE was secretly preparing for a public listing. When the company finally filed for an IPO, Bang allegedly gained from a 30% return-sharing deal with the PEF, a transaction not revealed during the IPO process.

If found guilty and the gains exceed 5 billion KRW (around $3.64 million), Bang could face life imprisonment or at least five years in prison.

According to the Korea JoongAng Daily, Bang reached the Mapo District office in Seoul at about 9:55 am on Monday. He told reporters, “I apologise for causing concern with this matter. I will fully cooperate with the investigation today.”

When asked if he had told investors to sell shares or rejected listing plans, Bang refused to comment further and said, “I will explain during the investigation,” as reported by JoongAng.

HYBE manages some of the most popular K-pop artists, including BTS, Tomorrow X Together, LE SSERAFIM, NewJeans, BOYNEXTDOOR, and KATSEYE.

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