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Police Raid HYBE HQ Amid $292M Fraud Allegations

7/25/2025

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Summary

Story summary

South Korean police stormed HYBE's headquarters on July 24, 2024, as allegations of stock fraud swirl around chairman Bang Si-hyuk. Accused of deceiving investors prior to the company's 2020 IPO, Bang is suspected of pocketing a staggering 400 billion won ($292.7 million). This dramatic raid follows a criminal complaint from the Financial Services Commission.

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Story summary

South Korean police stormed HYBE's headquarters on July 24, 2024, as allegations of stock fraud swirl around chairman Bang Si-hyuk. Accused of deceiving investors prior to the company's 2020 IPO, Bang is suspected of pocketing a staggering 400 billion won ($292.7 million). This dramatic raid follows a criminal complaint from the Financial Services Commission.