Bang Si-hyuk’s legal troubles took a major turn on April 21. According to news agencies and media outlets, the Financial Crime Investigation Division of the Seoul Metropolitan Police Agency formally requested an arrest warrant for the HYBE chairman over alleged fraud and unfair trading linked to HYBE’s pre-IPO share deals.
This request comes five months after the music executive was last questioned. When announcing the arrest warrant request, authorities stated they will “continue to take a firm stand against market manipulation.” During a Monday press briefing, Seoul Metropolitan Police Chief Park Jeong-bo said “We are reviewing the legal aspects as we wrap up the final stages of the investigation.”
What happened today?
Police said the Bang Si-hyuk arrest warrant request was filed on April 21 after a long-running investigation into possible illegal stock market activity. Investigators reportedly believe they have finished gathering all the evidence and facts. Now, it has moved to the warrant stage.
What are the HYBE IPO fraud allegations?
Investigators believe that in 2019, HYBE went public and Bang Si-hyuk intentionally misled early shareholders. He told the investors that the company had no plans to go public soon or that the listing would be significantly delayed.
Because the investors believed that the company wouldn’t be listed on the stock market for a long time, they were convinced to sell their shares early. These investors sold their shares to a private equity fund that was allegedly secretly linked to Bang.
Authorities assume those shares were later sold at a much higher valuation once the IPO went ahead. Investigators say Bang made roughly ₩190 billion in his personal profit, or about $136 million.
HYBE’s response and Bang’s side
Through his lawyer, Bang expressed regret over the arrest warrant, saying he has fully cooperated with the investigation so far. He added that he will continue to cooperate with all future legal steps to prove his innocence.
Why his travel ban is also getting attention
Bang Si-hyuk’s travel ban has been in place since August 2025, so he currently cannot leave South Korea. And that has become part of the wider story. According to the Hankook Ilbo, the U.S. Embassy sent a letter to Korea’s acting Commissioner General of the Korean National Police Agency Yoo Jae-seong. The embassy asked to let key HYBE executives, including Chairman Bang, CEO Lee Jae-sang, and Vice President Kim Hyun-jung travel abroad. They need to attend America’s 250th anniversary events on July 4th and manage overseas business, such as organizing BTS’s U.S. concert tour.
Is Bang Si-hyuk going to jail?
Not yet. Police have asked for an arrest warrant, but the court still has to decide whether to issue it. The case is putting HYBE under intense investor analysis, though day-to-day movement still depends on overall market sentiment. If the court approves the warrant, Bang could be taken into custody while the case moves forward.