KUALA LUMPUR, April 21 — Police have applied for an arrest warrant for HYBE chairman Bang Si-hyuk, officials said Tuesday.
In a report by The Korea Herald, the Seoul Metropolitan Police Agency’s financial crimes investigation unit said Bang has been booked on charges of fraudulent and unfair trading, and authorities are now seeking to place him in custody.
The development comes a day after Seoul Metropolitan Police Agency Commissioner Park Jung-bo said at a briefing that the investigation into Bang was “essentially complete” and nearing conclusion.
Bang is under investigation for alleged violations of South Korea’s Capital Markets Act.
He is suspected of having secured illicit gains worth about 190 billion won (RM510 million) during HYBE’s 2019 initial public offering process.
He has been subject to a travel ban since August last year while the probe was ongoing.
