Hybe Chairman Referred to Prosecutors Over 2019 Shareholder Deception Allegations
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Yonhap reported that Bang Si-hyuk, chairman of Hybe, was referred to the Seoul Southern District Prosecutors Office on suspicion of shareholder deception. The alleged fraudulent trading violation, which occurred in 2019, is said to have breached the Capital Market Act. Investigators claim that 263.1 billion won (US$19) was improperly pocketed during the incident.