police-Hybe chairman

▲ This undated file photo shows Bang Si-hyuk, founder and chairman of Hybe, a K-pop powerhouse with BTS. (Yonhap)

SEOUL, Aug. 31 (Yonhap) -- Bang Si-hyuk, chairman of K-pop powerhouse Hybe, will be referred to the prosecution this week for possible indictment on suspicion of deceiving investors into selling their stakes in his company, police said Monday.

"We plan to forward the case to the prosecution within the week," Hong Seok-ki, head of the National Office of Investigation, told a press briefing.

Bang is accused of violating the Capital Markets Act by deceiving investors into selling their stakes in Hybe in 2019, just before the company went public, making nearly 200 billion won (US$145 million) in additional and illegal profits.

Police launched an investigation into the allegations in December 2024 and began a full-scale probe in July of last year, which included a raid on Hybe headquarters.

Their investigation was prolonged after the prosecution requested supplementary investigations while rejecting two arrest warrant requests filed by the police.

Sources close to the issue said the police were expected to refer Bang's case to the prosecution without seeking his detention.

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