Bang Si-hyuk Faces 14-Hour Police Investigation Over Alleged Share Deception
Sep 16, 2025
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The Financial Crime Investigation Unit of the Seoul Metropolitan Police Agency investigated Chairman Bang from 10 a.m. to 11:50 p.m. on the 15th for violating the Capital Markets Act.
Chairman Bang, who appeared at the building in a black sedan on the same day, said before the investigation, `I apologize for causing concern.' `I will do my best", but after the investigation, he did not answer any questions from the reporters and boarded the vehicle and left.
Chairman Bang is accused of earning about 190 billion won in unfair profits by receiving 30% of the profits from the sale of shares after he told existing investors that the listing plan would be delayed ahead of Hive's listing in 2019, forcing them to hand over their shares to a special purpose corporation established by a private equity fund related to him.
Police raided Hive's headquarters and the Korea Exchange from June to July this year, and the Securities and Futures Commission has also filed a complaint with the prosecution against Chairman Bang and former executives on charges of fraudulent transactions.
On the other hand, Hive complied with the laws and regulations at the time of listing", denying the allegations altogether. Chairman Bang is also in the position that `there is no fact that false information was provided to early investors, and the conditions for profit distribution are also in accordance with the investor's proposal.' Last August, I emailed all of my employees to see if they missed anything in the growth process, and I'm committed to protecting Hive from harm to artists and staff"I will continue to investigate faithfully.", he also said.
The police will decide whether to investigate further summons based on the confiscated items and statements.
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