"HYBE's headquarters was raided by prosecutors due to allegations of insider trading involving the company executive and a significant financial gain of $176,500."
"The investigation centers on an executive who reportedly bought shares of YG Plus after gaining access to confidential investment information from HYBE."
"Bang Si-hyuk, the chairman of HYBE, faces allegations of defrauding investors during HYBE's IPO process, allegedly resulting in $289 million in illicit gains."
"HYBE oversees major K-pop acts including BTS, TXT, and Seventeen, marking the agency as a significant player in the global K-pop industry."
HYBE, the agency responsible for iconic K-pop groups like BTS, has come under scrutiny as prosecutors raided its headquarters in Seoul. The investigation points to potential insider trading by an executive who allegedly profited approximately $176,500 after obtaining confidential information about HYBE's investment in YG Plus. Additionally, HYBE's founder, Bang Si-hyuk, is facing separate allegations of defrauding investors associated with the company's initial public offering in 2020, reportedly pocketing around $289 million. These developments raise questions about ethics and compliance within major entertainment agencies.
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