[Breaking] Police Raid HYBE Headquarters Over Chairman Bang Si Hyuk’s Alleged Pre-IPO Stock Fraud

Credit: HYBE

Police raided the headquarters of BTS agency Hybe in Yongsan, Seoul, Thursday, as part of an ongoing investigation into alleged stock fraud by company chairman Bang Si-hyuk.

The raid was carried out by the Seoul Metropolitan Police Agency, which is probing allegations that Bang misled early investors and earned illicit gains worth several hundred billion won ahead of the company’s initial public offering in 2020.

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