It is known that the search warrant related to the capital market law violation charges against HYBE Chairman Bang Si-hyuk, requested by the police, was rejected at the prosecution stage.
According to the Seoul Southern District Prosecutor's Office on the 15th, the Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency recently failed to file a search warrant against HYBE.
Chairman Bang is under police investigation for allegedly deceiving existing investors of HYBE in 2019 by claiming there were no plans for an initial public offering (IPO) and selling his equity to a private fund established by an acquaintance before actually pursuing the listing, suspected of fraudulent trading under the Capital Markets Act.
The Financial Supervisory Service is also investigating this case.