[Breaking News] Police reapply for arrest warrant of HYBE Bang Si-hyeok..rejected just six days later

*This content was translated by AI.

The police have re-applied for an arrest warrant against HYBE Chairman Bang Si-hyeok, who is suspected of deceiving investors and securing illegitimate profits ahead of the company's initial public offering (IPO).

According to the Seoul National Police Agency on the 7th, the Financial Crime Investigation Division re-applied for an arrest warrant against Chairman Bang, who is suspected of fraudulent trading under the Capital Markets Act, on the 30th of last month.

This comes just six days after the Prosecution Service rejected the warrant and requested supplementary investigation.

Previously, the police applied for an arrest warrant against Chairman Bang on the 21st of last month. However, two days later, the Seoul Southern District Prosecutors' Office Financial and Securities Crime Joint Investigation Division rejected the warrant, stating, "We determined that there is insufficient justification for the necessity of detention at this stage and requested supplementary investigation."

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*This content was translated by AI.