Police Seek Arrest of HYBE Chairman Bang Si-Hyuk in Fraud Probe

South Korean police have applied for an arrest warrant for Bang Si-hyuk, chairman of HYBE, the entertainment agency behind the K-pop supergroup BTS, on charges of fraudulent and unfair trading related to an alleged investor fraud scheme, according to the Seoul Metropolitan Police Agency’s financial crimes investigation division on Tuesday, April 21, 2026.

The police allege that Bang misled investors in 2019 by stating that HYBE, then known as Big Hit Entertainment, had no plans to go public, which induced shareholders to sell their shares to a specific private equity fund. Shortly after, the company proceeded with an initial public offering in 2020.

Police suspect that Bang secretly agreed with the private equity fund to receive 30 percent of the capital gains when the fund sold its shares after the IPO. According to the investigation, this arrangement allegedly allowed Bang to secure illicit profits of 190 billion won, equivalent to approximately $129 million.

The Capital Markets Act prohibits obtaining financial gains through false statements or deceptive schemes in connection with financial investment products, including unlisted shares, which forms the legal basis for the charges against him.

Bang has been under investigation since November 2024 over these allegations. He was first called in for questioning in September 2025 and has since been summoned by police for questioning five times. A travel ban has been imposed on him since August 2025.

HYBE, headquartered in the Yongsan District of central Seoul, is a multinational conglomerate known for managing K-pop acts including BTS, as well as girl groups such as Katseye and NewJeans. The company’s headquarters have been referenced in relation to the ongoing investigation.

Bang’s legal team responded to the developments by stating that they do not directly address the accusations but expressed regret that police are seeking his arrest “despite our full and consistent cooperation with the investigation over an extended period.” They added, “We will continue to cooperate with all legal procedures and make every effort to clearly explain our position.”

The Seoul Metropolitan Police Agency confirmed that it has asked prosecutors to request a court warrant for Bang’s arrest. The outcome of the warrant request will determine whether he will be taken into custody as the investigation expands.