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HYBE Cooperating With Authorities in Insider Trading Investigation
HYBE, a multinational entertainment company, is 'cooperating' with local authorities in Korea over allegations of insider trading.
Prosecutors raided the Seoul headquarters of HYBE — the K-pop agency behind such global acts as BTS and Seventeen — on Thursday amid allegations of insider trading involving a former executive. The Seoul Southern District Prosecutors’ Office is looking into allegations that an executive no longer with the company illegally earned profits of up to $176,500 dollars (240 million won) through stock trading using insider information, per The Korea Times. Elsewhere, reports of unlawful conduct at the hands of HYBE’s Founder and Chairman, Bang Si-hyuk, surfaced in December on account of the executive being monitored by Korea’s Financial Services Supervisors.
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