[theqoo] WHY DID THE PROSECUTION REJECT BANG SIHYUK’S ARREST WARRANT?… “THE POLICE’S LEGAL REASONING WAS FLAWED FROM THE START”

It has been determined that the prosecution rejected the arrest warrant for HYBE Chairman Bang Sihyuk because it found issues with the legal reasoning applied by the police.

According to MBC’s investigation, the prosecution rejected the arrest warrant for Chairman Bang, concluding that “further investigation is needed regarding the facts of the case and the overall application of the law.”

It has been confirmed that the prosecution deemed it necessary to supplement the overall investigation results, including the relationship between Chairman Bang and the private equity funds that profited from HYBE’s IPO, as well as the amount of unjust enrichment allegedly obtained by Chairman Bang.

Furthermore, the prosecution believed that further legal review was needed regarding the police’s application of charges of fraudulent trading under the Capital Markets Act.

The rationale is that, to apply this charge, it must be confirmed whether other general investors who purchased HYBE shares based on Chairman Bang’s actions also suffered losses.

Chairman Bang is accused of deceiving HYBE investors in 2019 by claiming there were no plans for an IPO, inducing them to sell their shares to a specific private equity fund, and subsequently reaping massive profits through the IPO.

Police suspect that Chairman Bang reaped approximately 190 billion won in illicit gains, 30% of the profit from the sale following the IPO, based on a confidential agreement he had made in advance with the private equity fund.

On the 21st, one year and four months after launching the investigation, the Financial Crime Investigation Division of the Seoul Metropolitan Police Agency applied to the prosecution for an arrest warrant for Chairman Bang on charges of fraudulent trading.

The Joint Investigation Division for Financial and Securities Crimes at the Seoul Southern District Prosecutors’ Office returned the arrest warrant for Chairman Bang to the police today, stating, “We determined that there was insufficient evidence to justify the need for detention at this stage.”

1. “The rationale is that, to apply this charge, it must be confirmed whether other general investors who purchased HYBE shares based on Chairman Bang’s actions also suffered losses.” So they’re just saying they won’t press charges

2. It sounds like they requested a supplementary investigation, so if they conduct that and submit the results, will they issue the warrant?

3. ㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋㅋ what a sight

4. But isn’t that true? I really hate Bang Sihyuk too, and I’d love to just avoid seeing him, but you can’t just force a legal principle that doesn’t apply, no?

5. I was wondering what was going on since there was no way they’d arrest BSHㅋㅋㅋ

6. Isn’t this investigation dragging on a bit? But they’re filing another request after the arrest warrant was rejected? They never had any intention of arresting him in the first place

7. Making a fuss. If they wanted to imprison someone, they will even make up crimes that you’ve never committed. That’s what prosecutors do. They are using the police as a shield and are fooling the public into thinking that they are investigating

8. Isn’t Bang Sihyuk trying to escape overseas no? They must arrest him now

9. In the end, the police was the issue

10. So, after such a long investigation, the result is an arrest warrant application that doesn’t even meet legal standards? It’s ridiculous