Police Seek Arrest of BTS Agency Hybe’s Billionaire Founder (2)

Police are seeking a warrant for the arrest of BTS-agency Hybe Co. founder Bang Si-hyuk following a probe into allegations the billionaire misled investors ahead of the K-Pop powerhouse’s 2020 initial public offering.

The Seoul Metropolitan Police Agency has applied for a warrant, a spokesperson said without elaborating. Prosecutors will review the request before asking a court to issue an arrest warrant. Bang was under investigation for allegedly telling early investors in 2019 that Hybe had no plans to go public while encouraging them to sell their stakes to a private equity fund he had ties to.

Bang Si-hyuk

Photographer: Jean Chung/Bloomberg

Bang has ...