South Korean Police Seek To Arrest HYBE Chairman Bang Si-Hyuk Over $100 Million Investor Fraud

South Korean police are seeking to arrest Bang Si-Hyuk, the billionaire founder and chairman of HYBE, as they expand an investigation into allegations that he illegally gained more than $100 million in an investor fraud scheme.

“South Korean police seek to arrest K-pop mogul behind BTS South Korean police are seeking to arrest music mogul Bang Si-Hyuk, chairman of the agency behind K-pop supergroup BTS, as they expand an investment fraud investigation SEOUL, South Korea -- South Korean police said Tuesday they are seeking to arrest music mogul Bang Si-Hyuk, chairman of the agency behind K-pop supergroup BTS, as they expand an investigation into allegations that he illegally gained more than $100 million in an investor fraud scheme”

ABC News

The Seoul Metropolitan Police Agency confirmed it has asked prosecutors to request a court warrant for Bang’s arrest, according to multiple reports.

ABC News

The BBC frames the case as charges of fraudulent trading tied to Bang’s company going public, saying police allege he misled investors in 2019 by claiming a public listing for his conglomerate Hybe was not likely while secretly preparing for it.

ABC News similarly says police are seeking to arrest Bang “as they expand an investment fraud investigation,” and it places the alleged deception in 2019, before HYBE proceeded with an initial public offering.

The Financial Express describes the same core allegation that police are seeking Bang’s arrest over an alleged investor fraud scheme worth more than $100 million, and it says the Seoul Metropolitan Police Agency asked prosecutors to seek a court warrant.

In the same reporting, Bang’s legal team does not directly address the accusations but expresses regret about the arrest request, with one statement saying it is “regret” that police were seeking his arrest “despite our full and consistent cooperation with the investigation over an extended period.”

The BBC adds that Bang has been banned from travelling abroad since August while the investigation is carried out, and it notes that the request for a warrant comes weeks after BTS kicked off a comeback world tour.

Police allege that Bang misled investors in 2019 about HYBE’s plans to go public, telling them that Hybe was not likely to list while he was allegedly preparing for a listing behind the scenes.

The BBC says South Korean police allege Bang misled investors in 2019 “by claiming a public listing for his conglomerate Hybe was not likely, while secretly preparing for it,” and it adds that Hybe debuted on South Korea's Kospi bourse in October 2020.

BBC

ABC News says Bang was investigated over allegations that he misled investors in 2019 by telling them Hybe had no plans to go public, prompting them to sell their shares to a private equity fund before the company proceeded with an initial public offering.

Multiple outlets describe the alleged side arrangement as a profit-sharing promise: the BBC says police allege Bang pocketed some 200bn won ($136m; £101m) as a result, while ABC News says police believe the fund may have paid Bang around 200 billion won ($136 million) in a side deal that promised him 30% of post-IPO stock sale profits.

The Guardian similarly says police believe the fund may have paid Bang about 200bn won ($136m) in a side deal that promised him 30% of post-IPO stock sale profits.

DW and PBS both provide the same structure in different language, with DW saying police believe the fund could have paid Bang around 200 mil millones de wones (136 millones de dólares) in a side deal that promised him 30% of the gains.

In the same reporting, Bang’s legal team says it regrets the arrest request while emphasizing cooperation, with the BBC quoting lawyers saying they “regret” the police's request for an arrest warrant and adding “We will continue to co-operate with all legal procedures and make every effort to clearly explain our position.”

The case is described as long-running and tied to South Korean rules on illicit proceeds, with the BBC spelling out that under South Korean law, those convicted of making 5bn won or more in illicit proceeds face between five years in jail and a life sentence.

“La policía surcoreana anunció el martes que busca arrestar al magnate musical Bang Si-Hyuk, presidente de la agencia detrás de la banda de K-pop BTS, en el marco de la ampliación de una investigación sobre las acusaciones de que obtuvo ilegalmente más de 100 millones de dólares mediante un esquema de fraude a inversores”

DW

The BBC says the case has seen raids at Hybe's headquarters, some of his assets frozen, and calls for him to step down as company chairman, while Bang maintains that his actions were above board.

It also says Bang has been banned from travelling abroad since August while the investigation is carried out, and it notes that he denies the allegations.

The Guardian and ABC News both report that Bang’s legal team expressed regret about the warrant request while continuing to cooperate, including the statement that it is “regret” that police were seeking his arrest “despite our full and consistent cooperation with the investigation over an extended period.”

ABC News adds that Hybe officials say Bang denies any wrongdoing, and it places the investigation in the context of BTS’s global tour after a nearly four-year hiatus.

The Independent similarly says police are seeking to arrest Bang as they expand an investigation into allegations that he illegally gained more than $100m, and it repeats the claim that police believe the fund may have paid Bang around 200 billion won ($136m) in a side deal promising 30% of post-IPO stock sale profits.

The Financial Express adds that Bang’s legal team had not yet issued an official statement confirming the fraud claims, but it says they expressed regret over the arrest move and that Bang has cooperated with investigators for a long period.

Several reports place the arrest-warrant request alongside BTS’s return to public performances, describing a comeback world tour and multiple concerts in South Korea and abroad.

The BBC says the request for a warrant comes weeks after BTS “kicked off a comeback world tour following a hiatus of nearly four years,” and it adds that industry watchers estimate Hybe stands to make more than $1bn from the sold-out tour, which will take the group to 34 cities across the world.

Euronews

The BBC also says the company's shares hit a four-year high when BTS announced their world tour in January, adding over 1 trillion won to its market value.

ABC News and PBS both describe BTS performing in front of “tens of thousands of international fans” at a free comeback concert in Seoul last month, and they also say the group held concerts in Goyang and Tokyo.

ABC News says BTS is to kick off a series of U.S. events with a concert in Tampa, Florida, later this month, and it repeats that the seven members served mandatory military service during the nearly four-year hiatus.

DW similarly says the legal troubles represent a public relations setback for Hybe “justo cuando BTS inicia una gira mundial tras una pausa de casi cuatro años,” and it notes that the group’s seven members completed their military service.

The Guardian adds that BTS performed in front of tens of thousands of international fans at a free comeback concert in Seoul last month and that the group is to kick off a series of US events with a concert in Tampa, Florida, later this month and will visit the UK in July.

Beyond the fraud allegations, the sources connect Bang’s legal troubles to other internal conflicts and to the company’s broader business stakes.

“The South Korean police on Tuesday said they are seeking to arrest Bang Si-Hyuk, the music magnate who is the founder and president of the agency behind the K-pop supergroup BTS, as they widen an investigation into allegations that he illegally obtained more than $100 million in an investor-fraud scheme”

Infobae

ABC News and PBS both describe a “highly public fallout between Bang and star producer Min Hee-Jin over the popular girl group NewJeans,” and they say the rift erupted in 2024 when Hybe attempted to remove Min as CEO of Ador, the subsidiary managing NewJeans, while accusing her of illegally attempting to take control of that company.

Infobae

ABC News adds that Min accused Bang of hostile treatment and of undermining NewJeans in favor of other groups, as the dispute moved into courts, and it says members of NewJeans tried to leave the label but a court last year ruled they must honor their contract through 2029.

The BBC also mentions that the case has seen calls for Bang to step down as company chairman, and it describes raids at Hybe's headquarters and frozen assets as part of the broader investigation.

DW and ABC News both frame the arrest-warrant effort as a public relations setback for HYBE, with DW explicitly tying it to the timing of BTS’s world tour after a nearly four-year hiatus.

The Financial Express adds that HYBE has been expanding beyond K-pop through its 2021 acquisition of Ithaca Holdings, paying about $1 billion to purchase Scooter Braun’s Ithaca Holdings and securing management rights to artists like Justin Bieber and Ariana Grande.

Across the reporting, the stakes are presented as both legal and corporate: the BBC emphasizes potential criminal exposure under South Korean law for illicit proceeds of 5bn won or more, while ABC News and PBS emphasize the immediate reputational and operational pressures as BTS continues performing.