Sonic Co-Creator Reportedly Arrested Again for Insider Trading Involving a Final Fantasy Game
Sonic the Hedgehog co-creator Yuji Naka has reportedly been arrested again for suspected insider trading involving a Final Fantasy game.
As reported by Japanese news outlet The Asahi Shimbun and translated by Bloomberg reporter Takashi Mochizuki on Twitter (below), the Tokyo District Public Prosecutor’s Office has apparently once again arrested Naka alongside other former Square Enix employees.
Naka and his former colleagues allegedly bought shares in Final Fantasy 7: The First Soldier developer Ateam Entertainment Inc. after finding out the studio was working on the game for Square Enix, but before that information went public.
Asahi: Tokyo District Public Prosecutor’s Office re-arrested former Square Enix employees, including Yuji Naka, this time for alleged insider trading related to Final Fantasy VII The First Soldier.https://t.co/84VZlTAu3s
— Takashi Mochizuki (@6d6f636869) December 7, 2022
Insider trading is the buying and selling of stocks with confidential or non-public information, usually with the intention to make money, and is illegal in Japan.
Naka was previously arrested less than three weeks ago for suspected insider trading involving the Dragon Quest Tact mobile game. He allegedly bought 10,000 shares in developer Aiming at a value of around $20,000 ahead of it announcing its partnership with Square Enix.
Naka is arguably most known for co-creating Sonic the Hedgehog and leading Sega’s Sonic Team, but was also lead programmer on other games including Nights into Dreams, Phantasy Star Online, and more. He eventually joined Square Enix but left in June 2021, not long after the release of his latest game Balan Wonderland.
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Ryan Dinsdale is an IGN freelancer and acting UK news editor. He’ll talk about The Witcher all day.