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HYBE CEO Under Fire Over IPO Allegations | South Korea News
Bang Si-hyuk, HYBE’s powerhouse CEO, is under fire as prosecutors probe allegations he misled investors before the company’s 2020 IPO, allegedly pocketing $193 million through deceptive financial maneuvers. Shareholders were told HYBE wouldn’t go public, prompting them to sell shares — only for a private equity fund to claim the listing was certain and use that money to buy back those shares. The case threatens market integrity, with potential prison time looming for anyone profiting over 5 billion won via fraud. Police have raided HYBE’s HQ and questioned Bang multiple times, though no…
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