BTS founder Pan Si Hyok is accused of defrauding investors
A new criminal case has been opened in South Korea against Bang Si-hyuk, the founder of the BTS group. This was reported by Zamin.uz.
Investigators believe he defrauded investors in 2019. That year, Big Hit Entertainment (now HYBE) stated it had no plans to go public.
After that, some shareholders sold their stakes in the fund at a high price. Later, the company announced an IPO, and the stock price soared.
Investigators consider this scheme to have been premeditated. They claim Bang Si-hyuk made a profit of about 30 percent, roughly 136 million dollars.
The producer’s lawyers deny the charges and emphasize that he continues to cooperate. For this reason, he has been barred from leaving the country since August.
Bang Si-hyuk founded Big Hit in 2005 and introduced BTS to the world in 2013.
