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Police continue investigation into Bang Si-hyuk despite prosecution's rejection of search warrants
By
Yoo Byoung-hoon
Published 2025.06.16. 12:35Updated 2025.06.16. 13:11
Bang Si-hyuk, Chairman of Big Hit Entertainment /Courtesy of News1
The police said regarding the allegations of capital market law violations against HYBE Chairman Bang Si-hyuk, "We will continue to coordinate with the prosecution or the Financial Supervisory Service as necessary while conducting the investigation."
A police official said at a regular press briefing on the morning of the 16th, "It is true that the prosecution did not approve the (two) search warrants requested by the police," adding, "Even so, considering the seriousness of the related matter, our police will continue to conduct the necessary investigation rigorously."
The official said regarding the reasons for the prosecution's complete rejection, "It is difficult to answer due to the specifics of the investigation situation."
Chairman Bang is accused of deceiving existing investors of HYBE in 2019 by saying there were no plans for an initial public offering (IPO), leading them to sell their equity to a private fund established by an acquaintance, and then pushing for the actual listing.
The police began an awareness investigation through their own intel last December and started a preliminary investigation. The Financial Supervisory Service is also investigating this case.
Police continue investigation into Bang Si-hyuk despite prosecutions rejection of search warrants
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