Photo: Vivien Killilea/Getty Images
As if HYBE’s PR team doesn’t already have enough on its plate! According to the Associated Press and Reuters, the Seoul Metropolitan Police Agency has confirmed that it asked prosecutors to request a warrant for the arrest of HYBE founder and chairman Bang Si-hyuk. The music mogul — whose company oversees groups including BTS and Katseye — is being investigated over allegations that he misled investors in 2019, prompting them to sell their shares to a private equity fund that he had an illegal side deal with. Police have accused Bang of gaining more than $100 million in this fraud scheme. Per HYBE officials, Bang denies any wrongdoing. His legal team shared a statement expressing regret that police are seeking his arrest “despite our full and consistent cooperation with the investigation over an extended period,” adding, “We will continue to cooperate with all legal procedures and make every effort to clearly explain our position.”
While Bang hasn’t been allowed to leave South Korea since last August, America is apparently hoping to make an exception. According to Korea’s National Police Agency, the U.S. Embassy in Seoul recently sent a letter to authorities requesting that Bang’s travel ban be temporarily lifted so he can come to the U.S. with other HYBE execs to attend an Independence Day event and hold talks related to BTS’s ongoing world tour. But if prosecutors decide to ask for a warrant, local outlets report that it typically takes a court only two to three days to decide whether to order an arrest. It seems like it might be best to put any Stateside summer plans on hold for now, but who knows? Maybe HYBE’s getting fireworks for a July 4 party and planning to go out with a Bang.
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