Hybe chairman slapped with exit ban in probe over alleged unfair stock trading
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The chairman and founder of K-pop powerhouse Hybe, Bang Si-hyuk, has been banned from leaving the country amid a police investigation into allegations of unfair stock trading, sources said Wednesday. The Seoul Metropolitan Police imposed the ban immediately after Bang returned from the United States on Aug. 11 to cooperate with the investigation, according to the sources. Bang is suspected of deceiving investors in 2019 that he had no plans to hold an initial public offering (IPO) for Hybe before inducing them to sell their shares to a special purpose company (SPC). Police suspect that Bang pocketed 190 billion won ($135.3 million) when the SPC sold its shares in the company once the IPO took place under a deal made in advance. Police began investigating the case late last year and summoned Bang for questioning twice last month. Bang's side has maintained that he followed relevant laws and regulations during the IPO process.Weiter zum vollständigen Artikel bei Korea Times
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Quelle: Korea Times
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