Man behind BTS referred to prosecution over allegedly lying to shareholders

Seoul police referred Bang Si-hyuk, chairman of HYBE, to prosecutors Thursday over allegations that he lied to early investors before the company’s listing. He is accused of unfair trading under the Capital Markets Act, and police did not seek an arrest warrant. Financial authorities put his alleged improper gains at nearly 200 billion won, while Bang has denied wrongdoing. Prosecutors are expected to review the police file before deciding on indictment.

Police alleged that in 2019 Bang told existing shareholders that the company had no plans for an initial public offering while BigHit was already moving through preliminary listing procedures.

The shares were sold to a special purpose company set up by a private equity fund tied to Bang, and the fund sold them after the company listed in 2020.

The Seoul Metropolitan Police Agency’s financial crime investigation unit opened the case in December 2024 and raided HYBE’s Yongsan headquarters in July of last year.

Published Sep 3, 2026 1:29 pm KST

Updated Sep 3, 2026 2:12 pm KST

HYBE Chairman Bang Si-hyuk appears at the Seoul Metropolitan Police Agency's financial crime investigation unit in Mapo District, Seoul, Sept. 15, 2025, for questioning over alleged violations of the Capital Markets Act's ban on unfair trading. Korea Times file

Seoul police referred Bang Si-hyuk, chairman of HYBE, the entertainment giant behind boy band BTS, to prosecutors Thursday over allegations that he deceived early investors in the agency into selling their stakes before the company went public.

Police did not request an arrest warrant for him.

Bang is accused of unfair trading in violation of the Capital Markets Act. The police alleged that in 2019, when HYBE was still known as BigHit Music, he told existing shareholders that the company had no plans for an initial public offering, prompting them to sell their shares to a special purpose company set up by a private equity fund tied to him, even as BigHit was already moving through preliminary listing procedures.

The fund sold the shares after the company listed in 2020, and police believe Bang collected roughly 30 percent of the proceeds under an undisclosed agreement. Financial authorities have put his improper gains at nearly 200 billion won ($145 million).

The Seoul Metropolitan Police Agency's financial crime investigation unit opened the case in December 2024 and raided HYBE's Yongsan headquarters in July of last year. Prosecutors turned back arrest warrant requests from police in April and May, demanding a supplementary investigation each time and prolonging the probe.

Bang has denied wrongdoing and has maintained that the listing was carried out in compliance with the relevant laws and regulations. Prosecutors are expected to review the police file before deciding whether to indict him.

Bang founded BigHit in 2005 and BTS debuted in 2013. The group's global breakthrough turned the label into the country's largest music company. Bang later stepped back from day-to-day management to chair HYBE's board and remains its single largest shareholder.

首尔警方周四将HYBE集团董事长方时赫移交检方，指控其在公司上市前向早期投资者撒谎。他被控违反《资本市场法》进行不正当交易，警方并未申请逮捕令。金融监管机构估计其非法获利近2000亿韩元，但方时赫否认有任何不当行为。预计检方将在审查警方卷宗后决定是否起诉。

警方称，2019 年，Bang 告诉现有股东，公司没有首次公开募股的计划，而 BigHit 当时已经在进行上市前的初步程序。

这些股份被卖给了一家与 Bang 有关联的私募股权基金设立的特殊目的公司，该基金在公司于 2020 年上市后将这些股份出售。

首尔地方警察厅金融犯罪调查组于 2024 年 12 月立案调查，并于去年 7 月突击搜查了 HYBE 位于龙山的总部。

发布于2026年9月3日下午1:29（韩国标准时间）

更新于2026年9月3日下午2:12（韩国标准时间）

2025年9月15日，HYBE集团董事长方时赫前往首尔麻浦区首尔地方警察厅金融犯罪调查科接受讯问，他涉嫌违反《资本市场法》中关于禁止不正当交易的规定。（韩国时报资料图）

首尔警方周四将男团 BTS 背后的娱乐巨头 HYBE 的董事长方时赫移交检察官，指控他欺骗公司早期投资者在公司上市前出售股份。

警方没有申请对他的逮捕令。

方被控违反《资本市场法》进行不正当交易。警方称，2019年，当时HYBE还名为BigHit Music，方告知现有股东公司没有上市计划，诱使他们将股份出售给一家由与其有关联的私募股权基金设立的特殊目的公司，而当时BigHit已经在进行上市前的准备工作。

该基金在公司2020年上市后出售了这些股票，警方认为方某根据一项未公开的协议获得了约30%的收益。金融监管部门估计他的非法所得接近2000亿韩元（约合1.45亿美元）。

首尔地方警察厅金融犯罪调查组于2024年12月立案调查，并于去年7月突击搜查了HYBE位于龙山的总部。检察官分别于4月和5月驳回了警方的逮捕令申请，每次都要求进行补充调查，导致调查时间延长。

邦某否认有任何不当行为，并坚称此次列入名单完全符合相关法律法规。检察官预计将审查警方卷宗后，再决定是否对其提起公诉。

方时赫于2005年创立了BigHit娱乐公司，防弹少年团于2013年出道。该组合的全球突破使BigHit成为韩国最大的音乐公司。之后，方时赫逐渐卸任日常管理职务，担任HYBE（BigHit娱乐旗下子公司）的董事长，并仍然是HYBE的最大股东。