Arrest on the cards for K-pop mogul?

South Korea police said they are seeking to arrest music mogul Bang Si-Hyuk, chairman of the agency behind K-pop supergroup BTS, as they expand an investigation into allegations that he illegally gained more than $100 million in an investor fraud scheme.

The Seoul Metropolitan Police Agency confirmed that it has asked prosecutors to request a court warrant for Bang’s arrest. Representatives of Bang’s agency, HYBE, did not immediately respond to requests for comment. Bang has been under investigation since November over allegations that he misled investors in 2019 by telling them HYBE had no plans to go public, inducing them to sell their shares to a private equity fund before the company proceeded with an initial public offering. Police believe that the fund may have paid Bang around 200 bn won ($136 mn) in a side deal that promised him 30% of post-IPO stock sale profits.