Sonic the Hedgehog co-creator Yuji Naka is facing a 2.5 year prison sentence and USD 1.2 million fine for insider trading while working at Square Enix. Naka was arrested twice for his role in the scheme, which he pled guilty to back in March.
From Sonic to Balan Wonderworld – Yuji Naka’s fall from grace
According to Yahoo Japan, prosecutors in Tokyo say Naka has shown no signs of remorse. Naka’s defense has requested a reduction in the prison sentence and fine, and a final decision will be made on June 7.
Last November, it emerged that Naka had purchased thousands of shares of Aiming stock when he found out that the developer was working on Dragon Quest Tact before it was officially announced. He did the same ahead of Final Fantasy VII: The First Soldier’s announcement.
Prosecutors say Naka accessed confidential information, and made a profit of ¥20 million ($146,000) from sale of said shares. In doing so, he violated Japan’s Financial Instruments and Exchange Act.
“There is no doubt that I found out about the games before they were made public and bought shares in them,” Naka apparently said in March (via VGC).
Naka had already left Square Enix when the allegations emerged. Following his departure, he blamed the company for Balan Wonderworld’s failure and proceeded to file a lawsuit against Square Enix.
