The police file on HYBE Chairman Bang Si-hyuk arrived at the Seoul Southern District Prosecutors' Office last week with a precise number attached: 263.1 billion won ($190 million) in what investigators called improper gains. The question that will decide Bang's fate is one that police and prosecutors have spent almost two years failing to settle between themselves: what crime, if any, the conduct amounts to. On Thursday, the Seoul Metropolitan Police Agency's financial crime investigation unit referred Bang and four others to prosecutors without detention on suspicion of fraudulent unfair trading under the Capital Markets Act, closing an investigation that went on for 21 months. Prosecutors will now review the record before deciding whether to indict, order further investigation or drop the financial crime charge, and lawyers who work these cases say all three remain possible. What police say happened Investigators allege that in 2019, while the company, then known as Big Hit Entertainment, was already moving through preliminary listing procedures, Bang and others told existing shareholde