Former Sonic lead Yuji Naka reportedly arrested over Dragon Quest insider trading
Facebook: Yuji NakaTokyo District Public Prosecutors Office have reportedly arrested game creator Yuji Naka due to claims of alleged insider trading issues related to Dragon Quest Tact.
It has been reported by Fuji News Network that Yuji Naka – best known for his role as the lead programmer of the original Sonic the Hedgehog series – has been arrested.
According to a translation of the initial report, the 57-year-old game creator has been arrested by the Tokyo District Public Prosecutors Office as he is believed to be involved in an insider trading case about the development of Dragon Quest Tact.
It is believed that – after being told that Dragon Quest Tact game would be developed by Square Enix and production company Aiming – Naka went and purchased approximately 10,000 shares of Aiming stock at a price of 2.8 million yen.
Just days ago, it was also reported that two other Square Enix employees had been arrested by Tokyo police on suspicion of insider trading. Naka, alongside two others, reportedly purchased shares in the company in January of 2020 with the belief that their shares would then increase in value when the game released in July later that year.
As per an announcement reportedly made by the Special Investigation Department, Naka was arrested for insider trading under the Financial Instruments and Exchange Law.
On November 17, Square Enix released a statement addressing the investigation, stating that they will “fully cooperate with the investigation to clarify the facts.” The company then added that they will be”taking disciplinary action against the former employees” and those involved in the situation.
At the time of writing it is still unknown whether or not Naka has sold his shares or what the exact consequences will be.