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Other One Of The Original Creators Of Sonic Got Arrested

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Read from Gematsu:

Yuji Naka, one of the co-creators of the Sonic the Hedgehog series, has been arrested by the Special Investigation Department of the Tokyo District Public Prosecutors Office in an insider trading scandal involving former employer Square Enix.

According to the Special Investigation Department, Naka learned in January 2020 that Square Enix, where he was then an employee, was collaborating with Caravan Stories developer Aiming to develop Dragon Quest Tact. He then allegedly purchased about 10,000 shares of Aiming for approximately 2.8 million yen before the title was announced, suspecting that the company’s stock price would rise after the announcement.

Taisuke Sasaki, another former Square Enix employee, and acquaintance Fumiaki Suzuki were also arrested yesterday on suspected insider trading. The pair are believed to be have purchased about 162,000 shares of Aiming for approximately 47.2 million yen ahead of Dragon Quest Tact‘s announcement.
 
SE posted this on the matter:

Concerning Media Reports on Former Employees under Investigation of Suspected Insider Trading​


Today, some media outlets reported that the former employees of Square Enix Co., Ltd. (hereafter "the Company") were under investigation for suspected insider trading. We have been fully cooperating with requests from the Securities and Exchange Surveillance Commission.

As the investigation by the Tokyo District Public Prosecutors Office is underway, we will continue to fully cooperate with their investigation.

We deeply regret the great concern this has caused to all concerned. We have dealt with this incident strictly, including internal disciplinary actions taken against the suspected employees.

We have established the proper management system for confidential information and have also set up a system to prevent insider trading, such as the obligation of prior notification when trading the Company's stock and prohibiting the stock trading of the Company and listed companies that have the business relationship with the Company before important non-public information is disclosed.

We have also worked to ensure thorough awareness of the regulations through employee training. Taking the recent incident sincerely, however, we will take further actions as preventive measures throughout the Company by further tightening internal regulations and conducting more thorough employee education programs.
 
cm2 said:
SE posted this on the matter:

Concerning Media Reports on Former Employees under Investigation of Suspected Insider Trading​


Today, some media outlets reported that the former employees of Square Enix Co., Ltd. (hereafter "the Company") were under investigation for suspected insider trading. We have been fully cooperating with requests from the Securities and Exchange Surveillance Commission.

As the investigation by the Tokyo District Public Prosecutors Office is underway, we will continue to fully cooperate with their investigation.

We deeply regret the great concern this has caused to all concerned. We have dealt with this incident strictly, including internal disciplinary actions taken against the suspected employees.

We have established the proper management system for confidential information and have also set up a system to prevent insider trading, such as the obligation of prior notification when trading the Company's stock and prohibiting the stock trading of the Company and listed companies that have the business relationship with the Company before important non-public information is disclosed.

We have also worked to ensure thorough awareness of the regulations through employee training. Taking the recent incident sincerely, however, we will take further actions as preventive measures throughout the Company by further tightening internal regulations and conducting more thorough employee education programs.
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Well, that's what I expected them to say. They were going to have security tightened bla bla bla.
 
Naka is arrested again, read from Nintendolife and VGC:

Yuki Naka has reportedly been arrested again over potential insider trading, this time related to the mobile title Final Fantasy VII: The First Soldier.

As reported by Asahi and VGC, Naka and former Square-Enix developer Taisuke Sazaki were arrested for allegedly investing in 'ATeam Entertainment' based on non-public information related to Square-Enix's plans to work with the company.


Naka was apparently made aware of the upcoming development and launch of Final Fantasy VII: The First Soldier prior to the information being made public, and as such invested around 120,000 shares in the company, totalling approximately ¥144.7 million yen ($834,000).
 
cm2 said:
Naka is arrested again, read from Nintendolife and VGC:

Yuki Naka has reportedly been arrested again over potential insider trading, this time related to the mobile title Final Fantasy VII: The First Soldier.

As reported by Asahi and VGC, Naka and former Square-Enix developer Taisuke Sazaki were arrested for allegedly investing in 'ATeam Entertainment' based on non-public information related to Square-Enix's plans to work with the company.


Naka was apparently made aware of the upcoming development and launch of Final Fantasy VII: The First Soldier prior to the information being made public, and as such invested around 120,000 shares in the company, totalling approximately ¥144.7 million yen ($834,000).
Click to expand...

When you think you're in the clear but not lol.
 
It is sad to hear that Yuji Naka choose to break the law by taking part in Insider Trading.
 
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