April 22, (THEWILL) — South Korean police are seeking to arrest Bang Si-Hyuk, the founder of HYBE Corporation, the company behind global K-pop group, BTS, over alleged investor fraud.
On Tuesday, April 21, 2026, the Seoul Metropolitan Police Agency announced that it has requested a court warrant to take him into custody.
Bang, one of the most powerful figures in the South Korean music industry, is accused of misleading investors in 2019 by telling them the company was not planning to go public.
This reportedly led them to sell their shares to a private equity fund. The company later went ahead with going public in 2020.
Police believe Bang may have received about 200 billion won (around £100 million) through a linked arrangement tied to the share sale.
Bang has been barred from leaving South Korea since August 2025 and denies any wrongdoing. His legal team said he has “sincerely cooperated” with investigators and maintains that all actions were lawful.
HYBE is the entertainment company behind BTS and other major K-pop acts. BTS recently resumed activities and launched a global comeback tour after completing mandatory military service.
The case is still under investigation, and the court has not yet approved the arrest warrant request.
Evi Ben Ezaga writes on entertainment, culture, and trending stories.
