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The Independent UK
The Independent UK
National
Ap Correspondent

K-pop music mogul faces arrest in South Korea for fraud

Bang Sihyuk BTS HYBE
  • South Korean police are seeking the arrest of music mogul Bang Si-Hyuk, chairman of HYBE, the agency behind K-pop supergroup BTS.
  • The Seoul Metropolitan Police Agency has asked prosecutors to request a court warrant for Mr Bang's arrest.
  • He is under investigation for allegedly gaining over $100m through an investor fraud scheme.
  • The allegations state Mr Bang misled investors in 2019 about HYBE's plans to go public, inducing them to sell shares to a private equity fund.
  • This legal issue presents a significant public relations challenge for HYBE, coinciding with BTS's global tour following their military service hiatus.

IN FULL

South Korea police seeks to arrest BTS agency’s billionaire founder in fraud investigation

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