BTS agency Hybe raided over alleged fraud trading
The Peninsula
Seoul: Hybe, the agency behind K pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its foun...
Seoul: Hybe, the agency behind K-pop superstars BTS, was raided by police on Thursday in connection with alleged fraudulent trading involving its founder Bang Si-hyuk, investigators said.
"We are conducting a search and seizure at Hybe's headquarters in Yongsan District," Seoul police said in a brief statement.
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 200 billion won (US$146 million) through the process, according to local reports.
Hybe has denied Bang committed any wrongdoing.
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