Entertainment
Police Raid HYBE Over Alleged Stock Fraud Involving Chairman Bang Si‑hyuk
HYBE, the powerhouse behind global K-pop acts like BTS, TXT, Seventeen, found itself at the center of controversy on July 24 after Seoul police officers stormed the company’s headquarters in Yongsan. This surprise raid was part of an investigation into allegations that the agency’s chairman, Bang Si‑hyuk, was involved in stock fraud tied to HYBE’s initial public offering.
Authorities from the Seoul Metropolitan Police’s financial crimes unit began searching the building in the early hours, seizing documents and digital records they believe could be key evidence. The investigation stems from a complaint filed by the Financial Supervisory Service, accusing Bang of misleading investors and making unfair gains before HYBE went public in 2020.
Back in 2019, Bang reportedly told early investors that HYBE had no intention of listing on the stock exchange. Trusting his word, many sold off their shares. But shortly after, HYBE pushed ahead with an IPO in 2020, and Bang is said to have walked away with hundreds of billions of won in profit, money those early investors never saw.
Investigators believe Bang used a private investment vehicle, possibly with the help of former employees, to secretly benefit from the listing while keeping others in the dark. Additionally, the alleged scheme could amount to a serious breach of South Korea’s financial laws.
This case has been quietly building for months.
In May, South Korea’s financial regulators handed over their findings to prosecutors. By July 17, police had obtained search warrants. On July 24, they moved in and launched the raid. Just days earlier, the Seoul Southern District Prosecutors’ Office granted the FSS full authority to dig deeper into the matter, giving the case even more weight.
In a short statement, HYBE said it is fully cooperating with the authorities and maintains that it has done nothing illegal. In addition, the company emphasized that its IPO process followed all necessary procedures and that it will continue to work with investigators to resolve the issue.
The long-awaited trial in the murder case of legendary rapper Tupac Shakur has reached a major development, with Duane “Keffe D” Davis sentenced to 40 years to life in prison on October 13, 2026.
Davis was convicted of first-degree murder in August 2026 for his role in orchestrating the 1996 killing. Tupac was shot in a drive-by attack in Las Vegas on September 7, 1996, and died six days later.
During the sentencing, the judge addressed Davis, rejecting his claims that he had changed his life and moved on from his past. “Mr. Davis, for three years, I’ve heard you say some variation of the same thing to law enforcement, [in interviews], in your book, and it’s something like, ‘Yeah, I was involved in this, but I’m different. I’ve moved on. I got out of Compton. I’m a grandfather now.’ I’m here to tell you that’s not how this works,” the judge said.
She continued “You don’t get to take a man from his family. You don’t get to take his very life, his whole future from him, and just walk away from it. Especially when that man is Tupac Shakur.
“The world never forgot about him and his death, and neither did Las Vegas. It took us 30 years, but at this time, you are going to face justice for what you did on Sept. 7, 1996.”
Nollywood actor Timini Egbuson has reflected on how his perception of YouTube movies has changed over the years. The actor recalled that there was a time when he looked down on movies released on YouTube.
However, he now appreciates the opportunities they have provided for his career and joked that he might have struggled financially if he had continued to dismiss them.
Sharing his thoughts in a post on X, Egbuson wrote “Can’t believe I was looking down on YouTube movies at some point. Hunger go don kpai me by now.”
Nigerian singer Timi Dakolo has advised young people who are still living with their parents not to rush into moving out because of peer pressure.
The singer encouraged young people to focus on their personal circumstances rather than compare their lives with those of others. He noted that there is no need to leave their parents’ homes simply because they want to feel independent.
Sharing his advice, Dakolo said “No hurry, leave your papa house because of peer pressure. Forget all that, ‘I don’t have my freedom here.’”
Judge Tells Duane Davis He Must Face Justice for Tupac’s Murder
Timini Egbuson Reflects on Embracing YouTube Movies in Nollywood
