South Korean authorities continue probing HYBE chairman Bang Si-hyuk over alleged violations of the Capital Markets Act tied to the company’s 2020 IPO, specifically claims that he misled early investors in 2019 about listing plans to steer shares toward linked private-equity entities and later received roughly $130 million in profits. Police twice sought an arrest warrant in April 2026, yet prosecutors rejected both requests for insufficient evidence and directed further investigation, leaving Bang subject to an ongoing travel ban and repeated questioning while he denies wrongdoing and cooperates. This procedural standoff, set against broader regulatory scrutiny of stock-market practices, has produced a closely balanced trader consensus around a 50% chance of formal charges by year-end. Additional evidence strengthening the case could prompt an indictment or renewed warrant, whereas sustained prosecutorial skepticism or case closure would likely reduce that probability.