Bang Si Hyuk behind BTS faces the risk of imprisonment: The surprising truth gradually revealed?

The investigation into Bang Si Hyuk, founder and chairman of HYBE, has entered a crucial phase, as the Financial Supervisory Commission of Korea prepares to transfer the case file to the prosecution, recommending criminal prosecution.

At the heart of the investigation is allegations of information manipulation and profiteering during HYBE's initial public offering — a major financial event tied to the growth of the entertainment conglomerate behind global phenomenon BTS.

According to several sources in the financial industry, the Financial Supervisory Commission of Korea has collected evidence that in 2019, Bang Si Hyuk was accused of intentionally misleading early investors by claiming that HYBE had no plans to list on the stock exchange. However, shortly after this statement, the group quietly moved forward with preparations for the process, including filing for the appointment of an auditor – a prerequisite for listing.

The key point is that during the aforementioned period, many investors – trusting information from HYBE – agreed to transfer shares to a private investment fund established by a person close to Mr. Bang Si Hyuk. Notably, the HYBE chairman signed a profit-sharing agreement with this investment fund, through which he received up to 30% of the profits from the deal. The amount of mone.y he is said to have earned is up to 400 billion won, equivalent to about 7,300 billion VND.

Although this is a factor that may affect transparency, the above profit-sharing agreement was not disclosed in the listing dossier - which made the Korean Financial Supervisory Commission particularly concerned and focused on the investigation.

Currently, the Financial Supervisory Commission of Korea has determined that the case shows signs of violating the provisions on "fraudulent and unfair transactions" under the Capital Market Act, and is completing procedures to transfer the case to the prosecution agency. At the same time, the Financial Crimes Division under the Seoul Metropolitan Police Agency has also launched an independent investigation to clarify related details.

In response to questions raised by the media, HYBE representatives once asserted that all transactions were conducted legally and in compliance with strict legal procedures. However, with new developments from the authorities, doubts about the level of transparency in the financial and development strategies of Korea's largest entertainment empire have once again risen strongly.

This is considered a major turning point more than half a year after the first reports of suspicious financial activities between HYBE and related investment funds were published. Initially, the investigation focused only on the possibility of violating the disclosure obligation, but the focus has now shifted to more serious criminal charges, showing the complexity and potential of the case.

Under South Korean law, individuals convicted of financial fraud exceeding 5 billion won (about $3.63 million) can face a minimum of five years in prison or even life in prison. With confidence in the financial market under pressure, the Bang Si-hyuk case is seen as an important test of the integrity of the legal system and the determination of authorities to clean up the capital market.

Many experts say that society is expecting a strong deterrent precedent not only to handle personal responsibility, but also to close loopholes in underground transactions, where power, interests and public trust are at risk of being easily traded.

The case is still being investigated by the authorities. Although there is no official conclusion, the information surrounding Bang Si Hyuk - who was once considered a symbol of success of the Hallyu wave - is stirring up much controversy in public opinion. Will this be a long slide for an entertainment tycoon, or a spectacular counterattack from the empire behind BTS? The answer will continue to be revealed in the coming time.

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