Court Orders Seizure Of Bang Si Hyuk’s Assets Worth Over 100 Million Dollars

HYBE founder and chairman Bang Si Hyuk’s legal troubles have just gone up a notch, with a court now issuing an order to freeze all his HYBE shares.

On November 4, KST, South Korean media reported that the Seoul Southern District Court approved a prosecution request to freeze about ₩157 billion KRW (about $107 million USD) worth of Bang’s shares in HYBE. The prosecution had filed a request to block him from disposing of his shares while he is under investigation for allegedly engaging in illegal stock trading.

This asset preservation order ensures that Bang’s assets remain available if the court later finds him guilty of the crime and determines that his assets should be confiscated or an equivalent amount should be collected from him. A HYBE official reportedly told Yonhap that the seizure is a routine procedure and clarified that it did not indicate a judgment on Bang’s allegations.

Bang Si Hyuk is currently under investigation for allegedly pocketing around ₩190 billion KRW (about $130 million USD) in illegitimate profits through a shady trading of HYBE’s stocks. You can read about it in more detail here:

Arrest Warrant For Bang Si Hyuk?— Korean Police Updates On His Financial Fraud Investigation