There is growing frustration inside the police force.
Koreaboo
A request for a search warrant related to HYBE Chairman Bang Si Hyuk’s alleged involvement in fraudulent trading has been rejected again by prosecutors, raising tensions between police and the prosecution.
According to reports from the Korean legal community on June 15, the Seoul Southern District Prosecutors’ Office once again turned down the search and seizure warrant request. The request, submitted by the Seoul Metropolitan Police Agency’s Financial Crime Investigation Unit, was part of an investigation into suspicious financial activities involving Bang and a private equity fund.
This is the second time the prosecutors have rejected a warrant related to the case. The first attempt in April was also blocked, leading the police to conduct additional investigations and reapply, only to face another rejection.
The case started late last year, when suspicions were raised that HYBE had told existing investors there were no plans to go public, while secretly preparing for an IPO. Police believe this may have misled investors and are trying to gather evidence, but without a search warrant approved by prosecutors, their efforts are limited.
Inside the police force, there is growing frustration. Some officers believe that the prosecutors are trying to take control of the HYBE case by deliberately blocking the warrants and delaying the investigation.
When we request a warrant, prosecutors gain access to all our investigation details. If they later reject the warrant claiming the case is redundant, it naturally raises suspicions that they’ve taken our investigation information for themselves.
— Police official
With no resolution in sight, it looks like the back-and-forth between police and prosecutors will continue.