Sonic The Hedgehog Co-Creator Yuji Naka Gets Suspended Prison Sentence For Insider Trading

Sonic the Hedgehog Co-Creator Given Suspended Prison Sentence for Insider Trading

Sonic the Hedgehog co-creator, Yuji Naka, has received a suspended prison sentence after being found guilty of insider trading in Japan. According to IGN (via IGN Japan), Naka, who is 57 years old, violated Japan’s Financial Instruments and Exchange Act. This judicial decision was reached following his court appearance at the Tokyo District Court on July 7.

The judge in the case handed Naka a prison sentence of two and a half years, which will be suspended for four years. Additionally, he received two fines amounting to 2 million yen and 170 million yen, equivalent to approximately $14,000 and $1.1 million respectively.

Earlier in June, Abema Times reported that the prosecutors in the case were seeking a prison sentence of two years and six months for Naka, along with fines totaling roughly $1.2 million. However, Naka’s defense team requested a reduction in the sentence and fine. The final verdict was announced on July 7 in Japan.

Naka, also known for directing Balan Wonderworld, was arrested in November in connection to an insider trading investigation related to an upcoming Dragon Quest game. Specifically, he was accused of purchasing 10,000 shares worth 2.8 million yen (around $20,000) in Aiming, the company responsible for developing the new mobile Dragon Quest game.

In a subsequent arrest less than a month later, Naka faced a second charge of insider trading. This time, it involved the now-defunct mobile battle royale game, Final Fantasy VII: The First Soldier. Naka was alleged to have acquired 120,000 shares in Ateam, the game’s developer, for approximately 144.7 million yen (over $1 million).

Consequently, Naka has now been formally charged and sentenced for his involvement in insider trading.

[Source: IGN via IGN Japan]