[instiz] BREAKING NEWS: HYBE EMPLOYEES RECEIVE SUSPENDED SENTENCES AND SLAP-ON-THE-WRIST PUNISHMENT FOR SELLING STOCKS AFTER LEARNING ABOUT BTS'S MILITARY ENLISTMENT IN ADVANCE

Avoided Losses of About 230 Million Won
Court: “Undermined the Public Integrity of the Capital Market”

Employees from HYBE affiliates who sold HYBE stock after learning in advance about BTS’s military enlistment and upcoming hiatus were sentenced to suspended prison terms in their first trial.

On July 22, the Seoul Southern District Court’s Criminal Agreement Division 13 (Chief Judge Kim Sang-yeon) sentenced Kim (37), a former employee of Source Music, to 10 months in prison with a two-year suspended sentence and a fine of 231 million won for violating the Capital Markets Act. Lee (33), a former employee of BigHit Music, received six months in prison with a two-year suspended sentence and a fine of 51 million won. Kim (41), a former employee of Belift Lab, was sentenced to six months in prison with a two-year suspended sentence and a fine of 65 million won. Source Music, BigHit Music, and Belift Lab are all subsidiaries of HYBE.

The court also ordered the forfeiture of the amount equivalent to the losses avoided through the use of undisclosed information. The court stated, “In entertainment companies, the activities of affiliated artists are directly linked to revenue, so information related to those activities is crucial and can significantly impact stock prices,” adding, “Using insider information for personal gain is a serious crime that damages the public trust in the capital market and is subject to strong public criticism.”

However, considering that this was their first offense, the court handed down suspended sentences.

source: https://www.hani.co.kr/arti/society/society_general/1209340.html

original post: here

1. I can't believe how lenient these sentences are

> Bang Sihyuk will probably get a suspended sentence too

2. Suspended sentence for first offense seems to be the norm

3. This pisses me off so bad

4. Sigh

5. Whether it's the employees or the head, they should really go to jail. What the hell are they doing?

6. Once we really peel the onion in this company, so many things will come out

7. That lineup ㅋㅋ

8. If they’re going to give suspended sentences, they should at least impose fines that are several times heavier. This is exactly why the public can’t help but view the legal world and law firms as a corrupt cartel.

9. Why do you think these are just slaps in the wrists? Because the law is written to protect those who already have money. Of course, only the average stock holders will be mad. That's all

10. A suspended sentence? ㅋㅋㅋㅋ That’s basically just telling the victims to suffer and d*e. That’s what this is.

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