Yuji Naka, co-creator of the Sonic the Hedgehog series and former boss of Sega’s Sonic Team, was given a suspended prison sentence for insider trading after a trial in Japan.
according to IGN JapanNaka, 57, was found guilty of violating Japan’s Financial Instruments and Exchange Law for insider trading related to game development for publisher Square Enix.
After the trial held at the Tokyo District Court on July 7, 2023, Judge Madoka Hiruta was sentenced to two and a half years in prison, four years’ probation, a fine of ¥2 million (approximately $14,000) and two fines. bottom. 170 million yen (approximately $1.1 million).
Naka was arrested in November on suspicion of insider trading related to investments made while working for Square Enix. The suspect is said to have purchased 10,000 shares of developer Aiming at a value of about $20,000 prior to the announcement of mobile game “Dragon Quest Tact” in partnership with Square Enix.
Insider trading, the buying and selling of stocks containing confidential or non-public information, usually for profit, is illegal in Japan.
Judge Hiruta said, “He was known as one of the most famous game developers in the world and had the authority to access joint development information. He undermined the fairness and soundness of the stock market and investor confidence.” rice field.
Naka is perhaps best known for co-creating Sonic the Hedgehog. He led Sega’s Sonic Team, but was also the lead programmer for other games including Nights into Dreams, Phantasy Star Online, and more. He eventually joined Square Enix, but left in June 2021. Soon after the release of the latest work “Baran Wonderland”.
Wesley is IGN’s UK news editor. Find @wyp100 on Twitter. You can reach Wesley at: email@example.com or confidentially firstname.lastname@example.org.