Yuji Naka has been re-arrested due to new insider trading charges
Further investigation into Square Enix stock offenses.
By Milos
Yuji Naka, the legendary Sega veteran and co-creator of the Sonic the Hedgehog franchise, has been arrested yet again as a result of further investigation into insider trading at Square Enix. According to the Japanese news outlet Asahi, this arrest is related to additional instances of stock manipulation performed during Naka’s time with the publisher.
Back in mid-November, Naka was arrested for the first time due to similar reasons and as a result of an investigation conducted by the Tokyo District Public Prosecutors’ Office Investigation Department. Back then, Naka and his two fellow Square Enix colleagues were accused of purchasing stocks in the studio Aiming ahead of the official announcement that the developer would be working on the Tokyo District Public Prosecutors’ Office Investigation Department. Back then, Naka was suspected of purchasing ¥47 million (around $336,300) of shares before the public announcement.
This time around, Naka and his fellow former Square Enix employee Taisuke Sazaki are suspected of investing in Japanese studio ATeam Entertainment, ahead of the announcement that said developer would be working on the 2021 mobile release Final Fantasy VII: The First Soldier. Naka is now accused of purchasing 120,000 shares in ATeam at a cost of around ¥144.7 million (around $834,000).