Sonic the Hedgehog co-creator Yuji Naka has reportedly been arrested on suspicion of insider trading for investments he made while working at Square Enix.
As reported by a Japanese outlet FNN translated by GI.BizNaka was arrested by the Tokyo District Public Prosecutors Office along with two other former Square Enix employees.
Naka is said to have bought 10,000 shares of developer Aiming for around $20,000 before partnering with Square Enix to announce the Dragon Quest Tact mobile game. Together, Daisuke and Fumiaki Suzuki allegedly purchased a total of 162,000 shares at a value of approximately $337,250.
Insider trading, the buying and selling of stocks containing confidential or non-public information, usually for profit, is illegal in Japan.
Therefore, the trio reportedly invested in Aiming before the Dragon Quest game was announced, hoping a collaboration with Square Enix would increase the company’s value. It is currently unknown whether the employee has sold shares.
Naka is arguably best known as the co-creator of Sonic the Hedgehog, where he led Sega’s Sonic team, but was the lead programmer for other games such as Knights Into Dreams and Phantasy Star Online. There was also. He eventually joined Square Enix, but retired in June 2021, not long after the release of his latest game, Balan Wonderland.
Ryan Dinsdale is an IGN freelancer. He talks about witchers all day long.
