South Korea Police Seek Arrest of BTS Agency Chief Over Fraud Allegations

South Korean authorities have requested the arrest of Bang Si-hyuk, the head of HYBE, on charges of investor fraud. The move follows the resumption of BTS’s global tour, which marks their return after a four-year break due to members completing military service.

Fraud Allegations Target HYBE Chairman

South Korean police said on Tuesday they have sought an arrest warrant for Bang Si-hyuk, chairman of the agency behind K-pop sensation BTS, over an investor fraud scheme.

According to police, Bang allegedly misled early investors by claiming HYBE had no intention of going public in 2019. This led them to sell shares to a private equity fund connected to his associates. He is suspected of violating capital market regulations through these actions.

Investigators say Bang later received about 30% of the fund’s post-IPO profits under a prior agreement, earning roughly 190 billion won ($129 million, €109.5 million).

Bang has been under investigation since November. The music mogul has denied wrongdoing. HYBE did not issue a comment on the request for an arrest warrant.

Bang founded HYBE as Big Hit Entertainment in 2005. Now, the agency is behind BTS and other major K-pop acts including Seventeen, Le Sserafim, and Katseye.

The case comes as BTS resumes touring after a nearly four-year hiatus. Earlier this month, the K-pop supergroup launched its global tour, which will take the band to 34 cities across the world, setting a new record for the most tour dates by a K-pop artist. Tickets for the concerts in South Korea, North America, and Europe sold out within hours of opening for sale, according to BTS’ management agency.

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