$289 million buys a lot of legal trouble. ⚖️
Prosecutors stormed HYBE’s Seoul headquarters this week, unravelling a twin storm of financial controversies rocking the K-pop giant.
The Seoul Southern District Prosecutors’ Office is investigating a former executive accused of insider trading—snagging $176,500 in illicit profits by buying shares of YG Plus after learning of HYBE’s secret investment plans.
But the bigger bombshell? HYBE’s founder, Bang Si-hyuk, faces a separate probe for allegedly defrauding investors during the company’s 2020 IPO.
Authorities claim Bang misled shareholders, secretly profiting $289 million through undisclosed deals with private equity funds—a potential violation of South Korea’s Capital Markets Act punishable by life imprisonment.
Despite the chaos, HYBE insists all transactions were legal.
Meanwhile, ARMYs fret over BTS’ impending reunion, though insiders insist the group’s comeback won’t be derailed by “Bang’s personal drama”.
With stocks plunging and scandals mounting, HYBE’s squeaky-clean image is suddenly looking sudsy.
