Bang Si Hyuk To Face Formal Interrogation Over Alleged Financial Crimes

HYBE founder and chairperson Bang Si Hyuk is reportedly going to be questioned by authorities soon.

As per a report by Kyunghang Shinmun on September 10, KST, the Financial Crimes Investigation Unit of the Seoul Metropolitan Police Agency is planning to question Bang at its Mapo office on September 15, KST.

Usually, the police enforce public appearance at such interrogations, and hence Bang is expected to walk through a press photo line on September 15 as well.

The HYBE chairperson is accused of misleading early investors, including venture capital firms, by encouraging them to sell their shares to a special purpose company (SPC) established by a private equity fund linked to him. This alleged act violated the Capital Markets Act, and a probe was launched earlier this year.

If the allegations against Bang Si Hyuk are confirmed, he and the others involved could face severe consequences legally, including life imprisonment or at least five years in prison.

Read more about this case here:

Investigation Into HYBE Bang Si Hyuk’s Alleged Illegal Actions Gets A Major Breakthrough