HYBE
BTS Administration Co. Raided
In Insider Buying and selling Investigation
Revealed
HYBE — the corporate that manages BTS and different main Ok-Pop acts — has been raided as a part of an insider buying and selling investigation … in response to studies out of South Korea.
The Korea Times reported early Thursday the Seoul Southern District Prosecutors’ Workplace searched the corporate’s workplace in central Seoul.
A HYBE govt’s reportedly been accused of gaining income of 240 million received — South Korean foreign money value about $175K — by utilizing insider info to revenue on the inventory market.
The nameless govt is below investigation after he allegedly bought inventory within the firm YG Plus — an affiliate of YG Leisure, one other prime Ok-Pop firm — after studying HYBE deliberate to companion with them.
HYBE’s most well-known consumer is the Korean boy band BTS … which has 9 platinum data and has offered out stadiums all around the globe.
Amongst HYBE’s different big Ok-Pop acts … Tomorrow X Collectively, BOYNEXTDOOR, LE SSERAFIM, KATSEYE, NewJeans and lots of extra.
We have reached out to South Korean authorities and HYBE for remark … up to now, no phrase again.
