LogInYuji Naka, co-creator of Sonic, has received a prison sentence of two and a half years for engaging in insider trading, resulting in a profit exceeding $146,000.
Sonic co-creator Yuji Naka has been sentenced to two and a half years in prison for insider trading.
Naka was charged with insider trading in stocks back in December 2022. According to the prosecution, the former employee of Square Enix purchased 10,000 shares of Aiming and 130,000 Square shares based on insider information about upcoming Dragon Quest and Final Fantasy games and resold them for a higher price, earning over ¥20 million.
In early March, Naka confessed to his involvement in the insider trading scheme and admitted to charges. When he opted to plead guilty, he reportedly stated, "There is no doubt that I found out about the games before they were made public and bought shares in them."
As reported by Denfanminicogamer.jp, on June 1, the Tokyo District Court held a third hearing in the case and sentenced Yuji Naku to two years and six months in prison. Naka has also faced two fines, one of ¥2.5 million and another of ¥170 million. However, his defense team is seeking to reduce these amounts.
Don't forget to join our 80 Level Talent platform and our Telegram channel, follow us on Instagram and Twitter, where we share breakdowns, the latest news, awesome artworks, and more.