Sonic Co-Creator Yuji Naka Admits Guilt In Square Enix Insider Trading Case
Yuji Naka, one of the key minds behind Sonic the Hedgehog, has admitted guilt in multiple insider trading cases.
Yuji Naka, the co-creator of Sonic the Hedgehog and a well-known figure of Sega's golden age, has admitted guilt in his trial for insider trading. As reported by NHK, when presented with the charges, Naka said that there was "no doubt" that he was guilty of the charges. Naka is accused of buying shares based on insider information, which is a violation of Japan law.
Naka is accused of committing two separate acts of insider trading. The first alleges that he bought about 3 million yen worth of stock in Japanese developer Aiming after he learned that the studio was working on a new Dragon Quest mobile game before it was publicly announced. The second relates to another mobile game announcement, Square Enix's Final Fantasy VII: The First Soldier, where he allegedly did the same thing. He's accused of netting the equivalent of $146,000 from these sales.
Naka is not alone in facing these charges, as several other former Square Enix employees are accused of being involved in the scheme. In recent years, Naka has become somewhat notorious for directing Balan Wonderworld, a critically panned platformer that released shortly before he left Square Enix. Naka sued Square Enix in 2022, claiming that the game was released in an unfinished state, and that he was removed as director six months prior to the game's launch.
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