Bang Si-hyuk, chairman of HYBE, appeared before police today over allegations that he misled investors during the company’s IPO process and pocketed hundreds of billions of won in unfair profits. Seoul Metropolitan Police’s Financial Crimes Unit summoned him as a suspect for violating capital market laws. At the scene, Bang said, “I sincerely apologize for the concern I’ve caused and will faithfully cooperate with the investigation.” The allegations claim that in 2019, Bang told early investors there were no IPO plans, while a private equity fund linked to him sold shares to a special purpose company (SPC), reaping illicit gains. Investors argue HYBE was already preparing for IPO at the time, and estimate Bang profited about KRW 190 billion (~USD 137 million). Bang has denied the charges, saying he has always “done his best to remain transparent and true to himself.” 📸 Xports News #BangSihyuk #eyop_news