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Agency raided over alleged fraud trading
Cape Argus
|July 25, 2025
HYBE, the agency behind K-pop superstars BTS, was raided by police yesterday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said.
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“We are conducting a search and seizure at HYBE’s headquarters in Yongsan District” Seoul police said.
Bang, the mastermind behind BTS, is under investigation over allegations that he misled early investors to reap illicit profits from the company’s 2020 initial public offering.
He is accused of gaining around $146 million (R2.6 billion) through the process, according to local reports.
HYBE has denied Bang committed any wrongdoing.
Dit verhaal komt uit de July 25, 2025-editie van Cape Argus.
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