The legendary Sonic the Hedgehog co-creator was arrested last month for allegedly purchasing shares in a development studio before its involvement in a Dragon Quest game was announced. A month later, he was arrested for the second time for allegedly purchasing stock in a company that was working on a Final Fantasy spinoff. Yesterday, Tokyo prosecutors formally charged Yuji Naka with insider trading in Final Fantasy stock worth approximately $1,080,000.
The Tokyo District Public Prosecutors Office determined that Naka was profiting from insider trading, according to NHK (Thanks, VGC). Insider trading, for the uninitiated, occurs when someone with non-public knowledge of a company is able to use that information to trade stock at a disadvantage. In Japan, this is illegal. As a result, Naka broke the law when he bought shares in ATeam before the studio announced that it would be developing the mobile game Final Fantasy VII: The First Soldier, a battle royale that was only available on mobile devices. Despite the fact that the game was announced for 2021, Naka was arrested on December 7th 2022.
Connect with me: