Seoul police referred HYBE Chairman Bang Si-hyuk and four others to prosecutors Thursday without seeking detention. The case centers on claims that in 2019, while BigHit (HYBE’s predecessor) was already preparing its listing, Bang told early shareholders there were no IPO plans. Investigators say this prompted them to sell stakes to a private equity fund linked to him; the fund later sold after the 2020 debut, and police calculate illicit gains of 263.1 billion won (about $193 million) that a court has frozen. Bang and HYBE have consistently denied wrongdoing. Prosecutors will now review the file and decide on any indictment.
For global fans following BTS’s massive return, the timing lands amid the group’s strongest chapter yet. After completing military service, BTS released the album ARIRANG in March 2026, which posted record first-day Spotify streams, a huge Billboard 200 debut, and a lead single that hit No. 1.
Their ongoing world tour dozens of stadium dates through early 2027 has already drawn enormous crowds and is projected to generate major revenue. HYBE’s wider roster has grown, but BTS remains the company’s clearest global engine, making leadership stability a quiet concern for many ARMY.
Online reactions mixed caution with frustration. Some fans shared the Yonhap reports with calls for accountability, while others stressed that the artists’ work stands separate from corporate legal matters and urged patience until prosecutors act. The case now sits with the Seoul Southern District Prosecutors’ Office.