South Korean authorities have been investigating HYBE chairman Bang Si-hyuk since 2025 over allegations of misleading investors and unfair trading tied to the company’s 2020 IPO, including claims of undisclosed profit-sharing arrangements that allegedly generated over $100 million in illicit gains. Police requested an arrest warrant in April 2026, but the Seoul Southern District Prosecutors’ Office rejected the application twice—in late April and early May—citing insufficient evidence and incomplete supplementary investigations. As of mid-August 2026, no formal charges, indictment, or detention have occurred despite the active probe and reported tensions between police and prosecutors. Police have considered but not pursued a third warrant application. With limited time remaining in the calendar year and stalled procedural momentum, traders assign a 73% implied probability to the outcome that Bang will not face charges in 2026.