The financial authorities have decided to refer Bang Si-hyuk, founder and chairman of HYBE, to the prosecution on charges of engaging in fraudulent and unfair trading during the company’s listing process, allegedly deceiving shareholders and gaining about 400 billion KRW in illicit profits. This marks the first case under the Lee Jae-myung administration in which financial regulators have imposed strong sanctions on a corporate owner-level figure. The Financial Services Commission’s Securities and Futures Commission (SFC) held a regular meeting on the 16th and decided to report Chairman Bang to the prosecution. Referring a case to the prosecution is the most severe penalty the financial authorities can impose on an individual suspected of violating the Capital Markets Act, apart from administrative sanctions. According to the Capital Markets Act, if the gains or avoided losses from such violations exceed 5 billion KRW, the offender can face life imprisonment or a minimum of five years in prison. Professor Lee Jeong-hwan from Hanyang University’s Department of Economics and Finance commented on the allegations, stating, “It appears to be a case of market manipulation that sacrificed ordinary investors,” and added, “If the allegations are true, strong financial penalties are necessary as it was ultimately aimed at financial gain.” https://m.seoul.co.kr/news/economy/finance/2025/07/17/20250717018001 Note : Unrelated to the NJ/MHJ/Hybe case so I don’t post it on the mega thread submitted by /u/redubellbet [link] [comments]
Financial authorities to refer HYBE founder Bang Si-hyuk to prosecution for fraudulent transactions worth 400 billion KRW
- reddit.com language
- 2025-07-16 16:22 event
- 2 months ago schedule