Sonic Creator Admits To Illegally Trading Over $US1 Million

Sonic Creator Admits To Illegally Trading Over $US1 Million

Earlier today, Sonic the Hedgehog co-creator Yuji Naka admitted to doing insider trading while working at Square Enix.

During his first trial with the Tokyo District Court this week, Naka admitted to violating Japan’s Financial Instruments and Exchange Act for trading $US1 million ($AU1.48 million) in stocks while working at Square Enix, according to NHK.

“There is no doubt that I knew the facts about the game before it was made public and bought the stock,” Yuji said, according to Japanese outlet TBS (which was translated by Time Extension).

Read More: Square Enix Kills Its Final Fantasy 7 Battle Royale Before It’s Even A Year Old

Last year, Naka was arrested twice over allegations of insider training in relation to Dragon Quest prior to developer Aiming going public with Dragon Quest Tact, and for purchasing $US1 million shares in ATeam Entertainment prior to the studio going public with Square Enix’s mobile battle royale game, Final Fantasy VII: The First Soldier. Naka was allegedly arrested along with Taisuke Sasaki, a former Square Enix employee who worked on multiple Final Fantasy and Kingdom Hearts projects, according to Eurogamer.

Naka allegedly purchased 10,000 shares (2.8 million yen, or around $AU30,000) in Tact’s developer Aiming’s stock according to AV Club. Naka also allegedly paid 144.7 million yen ($AU15 million) for 120,000 shares in ATeam, according to Asahi.

Naka’s most recent Square Enix game was the contentious Balan Wonderworld. Naka would later sue Square Enix for being let go from the studio six months before the game’s release. It has yet to be disclosed whether or not the two parties ever reached a resolution.

Kotaku reached out to Square Enix and Sega for comment.

The Cheapest NBN 1000 Plans

Looking to bump up your internet connection and save a few bucks? Here are the cheapest plans available.

At Kotaku, we independently select and write about stuff we love and think you'll like too. We have affiliate and advertising partnerships, which means we may collect a share of sales or other compensation from the links on this page. BTW – prices are accurate and items in stock at the time of posting.


Leave a Reply

Your email address will not be published. Required fields are marked *