Bang Si-hyuk, Chairman of Hybe, Undergoes Fifth Investigation for Capital Markets Act Violation

[Financial News] Bang Si-hyuk, Chairman of Hybe, has reportedly been questioned by police several times this year on allegations of unfair trading during the company’s initial public offering (IPO) process.
The Seoul Metropolitan Police Agency (SMPA) Financial Crime Investigation Unit summoned Bang for two additional rounds of questioning following his second investigation on the 5th. A police official explained that the second investigation was conducted in multiple sessions.
Bang is accused of deceiving a private equity fund (PEF) by claiming there were no plans for an IPO while selling unlisted shares in 2019, and subsequently earning approximately 190 billion won in capital gains after the company went public.
After receiving a tip-off late last year, police conducted searches of Hybe’s headquarters and the Korea Exchange (KRX) in June and July, and imposed a travel ban on Bang. Authorities are currently analyzing accounts and documents as part of the ongoing investigation.
At a regular press briefing the previous day, police stated that the investigation into Bang’s case has made significant progress.
[email protected] Choi Seung-han Reporter