2023-07-08 17:57:10
Yuji Naka was also sentenced to 2.5 years in prison, suspended for four years.
Sonic co-creator and Balan Wonderworld director Yuji Naka has been found guilty of insider trading. The Tokyo District Court sentenced him to a hefty $1.2 million fine and a two-and-a-half-year prison term, suspended for four years.
This sentence is not far removed from what prosecutors were asking for at the start of last month, with the sole exception of the four-year suspended sentence, which will allow Naka to avoid any prison sentence unless he violates any of the conditions imposed by the court or has any other legal difficulties during this period. According to a summary translated by SEGAbits, Naka allegedly showed “remorse”, which led to the suspended sentence, although the prosecution insisted that was not the case. The fine, however, remains unchanged, with Japanese outlet Jiji reporting that he was fined 2 million yen (regarding $14,000) and an additional penalty of 171 million yen (regarding $1.2 million). ).
Here is the Japanese press article on the conviction of Yuji Naka. We rely on translations, but it looks like he got a 4-year suspension out of a 2.5-year jail sentence. He is said to have shown “remorse” and therefore a suspended sentence was appropriate. https://t.co/I6kRowHaAkJuly 7, 2023
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Naka was arrested in November 2022 for insider trading while working for Square Enix, alongside two other employees. He was accused of buying shares in Aiming Imc. before his collaboration with Square Enix on the mobile game Dragon Quest Tact, only to be shut down once more a month later for the same, but this time for Final Fantasy 7: The First Soldier and developer ATeam.
The developer all but admitted guilt on the first day of the trial last March, saying, “There’s no doubt that I knew the facts regarding the game before it went public and I bought the shares.” , so his conviction is not a surprise. It is now up to Naka to pay the fine and behave as well as possible until 2027, under penalty of ending up behind bars.
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