Federal prosecutors are seeking a 12-18 month prison sentence for James Patten, who pleaded guilty to securities fraud in a $100 million New Jersey deli stock manipulation case. This is significantly less than the 70-87 months suggested by sentencing guidelines, citing disparities with co-defendants' sentences and redacted information.
Seoul Metropolitan Police Agency has requested an arrest warrant for Hybe founder Bang Si-hyuk for alleged fraudulent stock trading in 2019, accusing him of misleading investors into selling shares to a linked private equity fund ahead of the company's IPO. The case has taken a diplomatic turn with the US embassy in Seoul reportedly requesting South Korean authorities to allow Bang to travel to the US while under investigation.
Police have filed for an arrest warrant for Bang Si-hyuk, chairman and founder of K-pop powerhouse Hybe, on suspicions of unfair stock trading. Bang is under investigation for allegedly deceiving investors in 2019 into selling their shares before the company's IPO, through which he reportedly pocketed nearly 200 billion won (US$135.9 million) in illegal profits.
