BangPD being investigated for having committed fraud and if he’s found guilty the punishment could be life imprisonment or 5 years in jail! [Updates!]

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    Omg:!:

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    This is blowing up wow!


    “Hive Chairman Bang Si-hyuk was engulfed in the suspicion of mischeat. On the 28th, the Korean Economic and Financial Supervisory Service's fraud and negative transaction of Bang Si-hyuk


    He reported that it was a policy to request an investigation to the prosecutor's office.


    According to the report, the 2nd Bureau of the Investigation of the Supervisory Service has secured evidence of the situation that Chairman Bang Si-hyuk sold the existing investors in 2019 to the PEF established by the chairman's acquaintance of the chairman of the high-speed holdings in 2019. In a situation where the listing was being recommended, such as applying for an IPO audit, it leaked false information to the shareholders. Chairman Bang signed a contract to share 30% of the investment profit with this PEF and received about 400 billion won. Their week


    The contract was not listed on the securities realm during the standing process. The Financial Supervisory Service plans to inform the prosecutor's office with a fast track (long-term emergency measures), ruling that the things that happened during the Hive's listing process are equivalent to the capital market law and illegal transactions. Seoul National Police Agency's strong investigation


    I'm investigating a case like a single financial crime investigation.”


    Bang Sihyuk, chairman of HYBE, has been engulfed in allegations of fraudulent transactions.


    On the 28th, the Korea Economic Daily reported that the Financial Supervisory Service (FSS) plans to request a prosecution investigation into Bang Si-hyuk on suspicion of fraudulent and deceptive transactions.


    According to the report, the FSS’s Investigation Division 2 has secured circumstantial evidence that in 2019, Bang Si-hyuk deceived existing investors by telling them there was “no plan for an initial public offering (IPO),” and persuaded them to sell their shares to a private equity fund (PEF) established by an acquaintance of Bang. This occurred while HYBE was actually moving forward with its IPO, including filing an application for a designated audit. Bang then signed a contract to share 30% of the investment profits with the PEF and received about 400 billion KRW in settlement. The shareholders’ agreement between them was not disclosed in the securities registration statement during the IPO process.


    The FSS judged that the actions during HYBE’s listing process constitute fraudulent and deceptive transactions under the Capital Markets Act and plans to notify the prosecution through fast-track procedures. The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency is also investigating the same case.


    It is reported that the FSS secured multiple pieces of evidence showing HYBE was actively proceeding with the IPO at the time. In November 2019, HYBE contracted with Han Young Accounting Corporation as the designated auditor, a mandatory step for IPOs. When applying for a designated auditor, companies must submit documents such as the lead underwriter agreement or minutes of board meetings proving the IPO process is underway. HYBE, however, reportedly gave contradictory information, telling existing investors there was no IPO plan, while informing financial authorities of the intention to go public.

    If Bang Sihyuk’s illegal activities are confirmed, it is expected that severe punishment will follow. According to Article 443 of the Capital Markets Act, violations resulting in gains or avoided losses exceeding 5 billion KRW are punishable by life imprisonment or a prison sentence of at least five years.


    The financial authorities are also said to be planning a strict response considering the ripple effects and symbolic importance on the capital market.

    source: https://naver.me/GKbHKnry


    original post: here


    1. Please please ㅜㅜ Please


    2. HYBE, please go down~ ㅋㅋㅋㅋㅋㅋㅋ


    3. Please make it happen


    4. May Bang Sihyuk's assets be confiscated and he goes bankrupt


    5. So we're seeing the end of HYBE now?? ㅋㅋㅋㅋㅋㅋㅋ


    6. HYBE flop


    7. If that doesn't get punished, who will?


    8. So HYBE is finally going for the downfall ㅋㅋㅋ I wonder what the maids' responses are


    9. But why are you putting the photo of the girl group next to him? Remove it


    10. Look at the trash journalist putting his photo besides the girl group

  • AllKill VIP
  • AllKill VIP
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    In Korea, Rich people only go to prison for a year or two max.

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    So this is why Bang has sent BTS to the military instead of making them stay in the overseas and rake more money.


    Jungkook is the biggest victim. He lost more than a billion dollars, something he will never recoup. Never.

  • AllKill VIP
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    Hi,


    So with all the chaos going on in SK —impeachment, snap election in June and all the justice reform talks—it’s worth asking: what does this mean for BSH and this fraud investigation?


    So now it’s reported that he allegedly profited big from those backdoor deals. It actually would not surprise me either if he cooperated for leniency by giving others up ——like say someone from Mirae who has been underwriting HYBE’s bonds since HYBE can’t pay off their debt in time. Makes you wonder why they didn’t do a hostile takeover so maybe there is something more there (okay now let me take off my Tatty hat).


    ANYWAY…


    Here’s where justice reform comes in: South Korea has been revamping its prosecution system, supposedly to make things more independent and less politically influenced. So if these reforms actually stick, it could mean Hitman faces a more serious and impartial investigation—something that hasn’t always been a given in high-profile corporate cases in SK.


    We know now that the FSS is already pushing the case forward, and the Seoul financial crimes unit is running a parallel probe. If this doesn’t get buried in red tape or backdoor deals, Bang could be looking at life in prison under Article 443 of the Capital Markets Act if convicted (I doubt he’ll get life, but maybe 2-3 years, heavy fines, have to give up his Chairman Seat for the time being).


    With the country heading into elections and public sentiment demanding transparency, this case might end up being a litmus test for whether the justice reforms are just talk or the real deal.


    Think they’ll actually hold him accountable? I’m not sure if I believe they will TBH. SK is deeply rooted in its Chaebols and Corporations. The election will be a big indicator of a path forward.


    -knysom


    Oh and one more thing…expect some type of media play to distract us from his issues. Like a controversy with one of his idols or groups.

    • New
    Quote from xPaulettex

    This is old. he will most likely get fined. He can always come to the US and avoid prison we take anyone

    :pepe-joy::pepe-joy::pepe-joy:

    And you find it funny because... ??? Can't even hide a bit you're a Bang PD stan lmao, how lame.


    It's not old btw, the investigation is starting now which are the news.

    • New
    Quote from Yama-Chan

    They were just investigating before. Now they've found evidence and are officially submitting it and accelerating to serve charges against him

    Imma need newjeans (or any kpop group) to come out with a decent song/hook using the word karma because the usability would be wild.... especially as we wait for the downfall of Bang :pepegrin:


    Been waiting to hear they found something concrete to jail him for this for YEARS, especially after finding out what he did to that female exec just before they went public :pepe-toast:

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    Quote from StanGIDLE

    I wonder if this is why they sold their SM shares to Tencent .

    I think it was for a number of things. To be able to speak on regards to the case against the founder of Kakao, THIS, and to pay for legal fees regarding MHJ and NewJeans. Hybe will survive, but it'll trundle along instead of being adventurous. In the long run, it actually might be in Hybe's interest that he goes to prison, as it could make reforms to the company a lot easier, like cutting their losses with dumb expansion plans, and going into gaming. Both costly expansions.

    • New
    Quote from onwards

    Imma need newjeans (or any kpop group) to come out with a decent song/hook using the word karma because the usability would be wild.... especially as we wait for the downfall of Bang :pepegrin:


    Been waiting to hear they found something concrete to jail him for this for YEARS, especially after finding out what he did to that female exec just before they went public :pepe-toast:

    Mother's Daughters have enough songs to use against him 😉😆😆😆

    • New
    Quote from onwards

    Imma need newjeans (or any kpop group) to come out with a decent song/hook using the word karma because the usability would be wild.... especially as we wait for the downfall of Bang :pepegrin:


    Been waiting to hear they found something concrete to jail him for this for YEARS, especially after finding out what he did to that female exec just before they went public :pepe-toast:

    I said it so many times in the Megathread when this news first trended: there are many white collar crimes big business and their executives get away with--fraudulent transactions on the stock market, when discovered, is NOT one of them.


    You get the book thrown at you for insider trading. What do you think happens when it's proven you lied and defrauded your investors and profited with over 350 million USD?


    GET HIS ASS

  • AllKill VIP
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    Quote from Yama-Chan

    I said it so many times in the Megathread when this news first trended: there are many white collar crimes big business and their executives get away with--fraudulent transactions on the stock market, when discovered, is NOT one of them.


    You get the book thrown at you for insider trading. What do you think happens when it's proven you lied and defrauded your investors and profited with over 350 million USD?


    GET HIS ASS

    Especially since SK never play about how they are seen overseas. All that work to buy US companies, get overseas investors and make Hybe famous worldwide is going to bite them on the butt when the trial starts, media worldwide use BTS's name for clout, armies go mad trying to clarify the members aren't involved, which all leads to Hybe being a source of national embarrassment. Yeah cheabols get away with stuff all the time, but only because no-one outside SK knows who they are or what they did, and it didn't involve overseas investors money.


    And thats still not counting how all of this will impact the Hybe USA and all the purchases they've done, I can see the FCC looking into them if only to make sure nothing hinky went down on the US side.

    • New
    Quote from Yama-Chan

    I said it so many times in the Megathread when this news first trended: there are many white collar crimes big business and their executives get away with--fraudulent transactions on the stock market, when discovered, is NOT one of them.


    You get the book thrown at you for insider trading. What do you think happens when it's proven you lied and defrauded your investors and profited with over 350 million USD?


    GET HIS ASS

    I know many hate her and she’s a controversial figure, but didn’t MHJ imply hybe execs are reckless ? I feel many slept on that during this whole thing because the case did bring up many shady things the higher up in hybe might be involved in . I wonder if they’ll revisit any of it

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    Quote from foreveraespaaa

    Twitter’s having a field day :!: He has a lot of enemies and people praying for his downfall :oops: never seen kpop fandoms so united against 1 person before ^^


    Even Hybe stans want him locked up:!:

    The day that evaluation went public he became public enemy #1 among different groups. That hybe industry evaluation was awful and got so many things wrongs 😅

  • AllKill VIP
  • AllKill VIP
    • New
    Quote from icyruios

    Good luck trying to find a prison cell big enough to contain his fat ass


    Girl, he mediaplays the hell out of his new “slim” body and probably pays journalists to hype him up for that more than he ever promoted Enhypen or Illit. Every single time he shows up on camera, the press acts like he’s the next Cha Eun Woo or something. Even Koreans are weirded out by how badly he wants everyone to acknowledge his weight loss.

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