BTS Management Company HYBE Raided in Insider Trading Investigation
HYBE BTS Management Co. Raided In Insider Trading Investigation
Published
HYBE -- the company that manages BTS and other major K-Pop acts -- has been raided as part of an insider trading investigation ... according to reports out of South Korea.
The Korea Times reported early Thursday the Seoul Southern District Prosecutors' Office searched the company's office in central Seoul.
A HYBE executive's reportedly been accused of gaining profits of 240 million won -- South Korean currency worth about $175K -- by using insider information to profit on the stock market.
The anonymous executive is under investigation after he allegedly purchased stock in the company YG Plus -- an affiliate of YG Entertainment, another top K-Pop company -- after learning HYBE planned to partner with them.
HYBE's most well-known client is the Korean boy band BTS ... which has 9 platinum records and has sold out stadiums all around the world.
Among HYBE's other huge K-Pop acts ... Tomorrow X Together, BOYNEXTDOOR, LE SSERAFIM, KATSEYE, NewJeans and many more.
We've reached out to South Korean authorities and HYBE for comment ... so far, no word back.
