The co-creator of the Sonic the Hedgehog series Yuji Naka has been sentenced to 2 years and 6 months in prison and a 2.5 million JPY fine for insider trading. According to reports from Abema Times, the defense of the former Square Enix employee is currently requesting a suspended sentence and reduced fines.
Yuji Naka previously admitted guilt during the insider trading investigation
Yuji Naka was active in a prominent role in the production of Square Enix’s popular Sonic franchise from 1984 to 2006. In 2018, Naka rejoined the Japanese giant to work on his newly created platformer Balan Wonderworld, which he left in 2022, as it underperformed critically and commercially. He, later on, went on and sued Square Enix in the same year, citing “unfair removal” as the reason.
The Tokyo District Public Prosecutors Office arrested Naka along with two other ex-employees of Square Enix, Taisuke Sazaki and Fumiaki Suzuki, on November 17, 2022, accusing him of insider trading with non-public information, tied to the 2020 mobile game Dragon Quest Tact. Naka allegedly purchased 10,000 shares of Aiming’s stock before the game was made public.
On December 7, Naka was taken into custody again, this time for allegedly purchasing 144.7 million yen in ATeam shares before the release of Final Fantasy VII: The First Soldier. The Tokyo District Public Prosecutors Office later indicted him on insider trading charges. In court in March 2023, the former Square Enix employee admitted guilt.
The announcement was made at the trial held at the Tokyo District Court on the 1st of June. Judgment is expected to be handed down on July 7.
What are your thoughts on Yuji Naka being sentenced to prison and fines for insider trading at Square Enix? Let us know in the comments below!
For more Mobile Gaming news and updates, join our WhatsApp group, Telegram Group, or Discord server. Also, follow us on Google News, Instagram, and Twitter for quick updates.
