00:01South Korean police have asked a court to issue a detention warrant for Bang Si-hyuk, the chairman and founder
00:07of HYBE, the K-pop agency that is home to BTS.
00:10That's over alleged illegal stock deals linked to the firm's initial public offering.
00:15The Seoul Metropolitan Police Agency said Bang is suspected of violating capital market laws by misleading early investors before the
00:24IPO.
00:24Police say he encouraged them to sell their shares to a private equity fund connected to his associates.
00:31According to investigators, the fund then sold its stake after HYBE went public.
00:36Bang reportedly received about 30% of the profits, earning around $129 million in illegal gains.
00:43However, he has previously denied any wrongdoing, and HYBE did not have an immediate comment when contacted by Reuters.
00:50Bang has been banned from leaving South Korea since August last year amid probes into the IPO.
00:56Obrig-
01:00to the oil marketable venture!
01:00The Federal Market
01:00The Federal Market
01:01uh
01:07the
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