Bang Si-hyuk Banned From Leaving Country Amid 190 Billion Won Fraud Probe
Oct 01, 2025
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The Seoul Metropolitan Police Agency's financial crime unit imposed a ban on Bang Si-hyuk's departure as soon as he returned from a business trip to the U.S. on Aug. 11.
An official from the Seoul Metropolitan Police Agency said at a regular press conference on the 22nd of last month that it is difficult to answer whether to apply for a ban on Bang Si-hyuk's departure. We are doing all the necessary research" he once said.
Bang Si-hyuk is accused of tricking existing investors into selling their shares to a special purpose corporation (SPC) created by a private equity fund invested by Hive executives in 2019 that had no plans to disclose the company before going public, and he is accused of pocketing about 190 billion won in unfair profits under a pre-signed shareholder contract.
Hive will do his best to restore confidence by explaining the allegations more actively in future investigations," he said.
The police conducted a summons investigation with Bang Si-hyuk twice a week apart last month. Bang Si-hyuk denies all related charges, saying that he complied with laws and regulations at the time of Hive's listing.
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