Yuji Naka is a well-known Japanese video game developer. Responsible for programming the famed SEGA title Sonic The Hedgehog and being an influential member of the team, Naka has a lot of respect.
Many might know him from his attempt at launching a new memorable title which went in vain, with Balan Wonderland getting panned universally. Yuji Naka would come out and Slam Square Enix for jeopardizing its success and development and sue them in the process. Unfortunately, Balan Wonderland is the least of Yuji Naka’s worries.
First reported by the Japanese news site FNN Prime Online, he is one of the prime suspects in the Square Enix insider trading case surrounding a new Dragon Quest title. As per the site, on Thursday, police in Tokyo took two former Square Enix into custody in Tokyo as suspects.
Now, police officials seemingly arrested Naka on charges of insider trading. Allegedly, before the announcement of Dragon Quest Tact, Naka purchased around 10,000 shares of Aiming stock valued at approx. $20,000. By gathering stock before the announcement, the authorities believe that the suspects knowingly did insider information to sell the stocks at higher prices.
Additionally, Square Enix officially confirmed that they are working with authorities to sort out this situation. Furthermore, they confirmed taking strict action against the suspects, including internal disciplinary action.
