Police on Wednesday referred to as within the chairman of Ok-pop powerhouse HYBE to query him for a 3rd recognized time over allegations of unfair inventory buying and selling in reference to the corporate’s 2020 preliminary public providing (IPO).
Bang Si-hyuk, the founding father of the leisure company, has been questioned over allegations that he misled buyers in 2019 by denying plans for an IPO and inducing them to promote their Hybe shares to a particular goal firm (SPC) linked to a non-public fairness fund he was related to.
Bang is suspected of pocketing some 190 billion gained ($131.2 million) when the SPC offered its shares within the firm as soon as it went public.
He appeared on the monetary crimes investigation unit of the Seoul Metropolitan Police Company in western Seoul to bear questioning, following the earlier interrogations in September.
Bang faces the cost of violating the Capital Market Act.
