HYBE Bang Si-hyuk & executives to be criminally charged for stock market fraud + informants leak testimony

Article: [Exclusive] Financial Authorities Plan to File Criminal Complaint Against HYBE Chairman Bang Si-hyuk for Stock Market FraudSource: Chosun IlboFinancial regulators have decided to file a criminal complaint against HYBE Chairman Bang Si-hyuk. According to financial authorities on July 8, the Capital Market Investigation Deliberation Committee (CMIDC), which operates under the Financial Services Commission’s Securities and Futures Commission, held a meeting on the 7th and made this decision, forwarding their opinion to the Securities and Futures Commission. If the Commission confirms this decision at its regular meeting on the 16th, it will mark the first instance of strong disciplinary action against a high-profile individual since President Lee Jae-myung’s administration began, following his pledge to crack down hard on stock market manipulation.Bang Si-hyuk is accused of misleading existing investors into believing that there were no plans for HYBE to go public, thereby convincing them to sell their shares, and then pocketing approximately 200 billion KRW (~$145 million) in profit from the IPO. The same measure will also be taken against 3 former HYBE executives suspected ...