00:00South Korean police are seeking to arrest music mogul Bang Si-yuk, chairman of HYBE, the agency behind K-pop
00:07supergroup BTS, as they expand an investment fraud investigation.
00:11Bang is under investigation over allegations that he misled investors in 2019 by telling them that HYBE had no plans
00:17to go public,
00:18inducing them to sell their shares to a private equity fund before the company proceeded with an initial public offering.
00:25Police believe the fund may have paid Bang around $200 million won or $136 million.
00:31The music executive and producer who founded HYBE as big hit entertainment in 2005 is one of the most powerful
00:37figures in K-pop, overseeing some of the industry's most popular artists.
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