Yuji Naka, co-creator of Sonic the Hedgehog, has reportedly been arrested again on suspicion of insider trading in a Final Fantasy game.
As reported by the Japanese news agency Asahi Shimbun Translated by Bloomberg reporter Takashi Mochizuki on Twitter (below), it appears the Tokyo District Public Prosecutor’s Office has again arrested Naka along with other former Square Enix employees.
Naka and his former colleagues allegedly bought shares in Final Fantasy 7: The First Soldier developer Ateam Entertainment Inc. After discovering that the studio was working on a Square Enix game, but before this information was released.
Asahi: The Tokyo District Public Prosecutor’s Office has re-arrested former Square Enix employees, including Yuji Naka, this time over allegations of insider trading related to Final Fantasy VII The First Soldier.https://t.co/84VZlTAu3s
– Takashi Mochizuki (@6d6f636869) December 7, 2022
Insider trading is the buying and selling of stocks with confidential or non-public information, usually with the intent to make money, and is illegal in Japan.
Naka was previously arrested less than three weeks ago on suspicion of insider trading with the Dragon Quest Tact mobile game. He allegedly bought 10,000 shares in developer Aiming worth about $20,000 before announcing its partnership with Square Enix.
Naka is arguably most famous for creating Sonic the Hedgehog and leading Sega’s Sonic Team, but has also been a key programmer on other games including Nights in Dreams, Phantasy Star Online, and more. He eventually joined Square Enix but left in June 2021, shortly after the release of his latest game, Balan Wonderland.
Ryan Dinsdale is a freelance journalist for IGN and UK news editor. He’ll be talking about The Witcher all day.
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