SEOUL, Sept 1 — Bang Si-hyuk, chairman of K-pop giant HYBE, will be sent to prosecutors this week for possible indictment over allegations that he deceived investors into selling their shares ahead of the company’s listing, police said today.

According to the Korea Times, Hong Seok-ki, head of the National Office of Investigation, told reporters that police intend to forward the case within the week.

Bang is suspected of violating the Capital Markets Act by misleading investors in 2019, enabling him to secure nearly 200 billion won (RM588 million) in additional profits before HYBE went public.

Police began looking into the allegations in December 2024 and launched a full-scale probe in July 2025, including a raid on HYBE headquarters. The investigation stretched on after prosecutors twice rejected police requests for an arrest warrant and ordered supplementary inquiries.

Sources familiar with the case said Bang is expected to be referred without detention.

The prosecution will now decide whether to formally indict the HYBE founder.