Prosecution Returns Bang Si-hyuk's Arrest Warrant Again: "Supplementary Investigation Not Completed"

Arrest Warrant Resubmitted and Rejected Again by Prosecution
Accused of Deceiving Investors to Sell Shares

The prosecution has once again sent back the arrest warrant for Bang Si-hyuk, Chairman of HYBE, to the police. He is suspected of deceiving investors and selling shares ahead of the company's initial public offering (IPO).

On May 7, the Financial and Securities Crime Joint Investigation Division of the Seoul Southern District Prosecutors' Office announced that it had rejected the arrest warrant for Chairman Bang, which had been resubmitted by the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency the previous day.

Bang Si-hyuk, Chairman of HYBE. Photo by Yonhap News.

The prosecution stated, "After reviewing the arrest warrant, we rejected the application because the supplementary investigations we requested had not been carried out."

Regarding the prosecution's decision to reject the warrant, the police said on this day, "We have no additional comments."

Previously, on April 30, the police reapplied for an arrest warrant for Chairman Bang on charges of fraudulent unfair trading under the Capital Markets Act. This came just six days after the prosecution had returned the previous warrant, requesting additional investigation.

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