Yuji Naka, creator of the character and game series “Sonic”, was arrested this Friday (11/18) in Japan, accused of using inside information in the stock market.
According to the official statement released by the investigators in the case, Naka allegedly obtained confidential information about a new smartphone game in the “Dragon Quest” series in January 2020, while working for the developer Square Enix.
The game in question was being developed by Square Enix and online game maker Aiming. At the time, Naka reportedly bought 10,000 shares of Aiming, for about $20,000, before the game’s release was announced.
That is, he knew that the announcement would drive up the value of the shares and took advantage of this information to buy shares in the bear market.
If the charge is proven, it is a violation of Japan’s Financial Instruments and Exchange Act.
Two other men, a former Square Enix employee and a friend of Naka’s, were also arrested for advance purchases of Aiming stock. It is currently unknown whether any of the three men sold their shares during the bull run.
Square Ennix released an official statement saying that “as the investigation by the Tokyo District Public Prosecutor’s Office is ongoing, we will continue to cooperate fully with the investigation.”
Released in 1991 for developer Sega, the first ‘Sonic’ game was a critical and commercial success, making the quick and cute blue hedgehog a character to rival Mario from the ‘Super Mario Bros’ game as one of the greatest icons of the golden age of video games.
Naka left Sega in 2006 to start his own game company, Prope, which developed games for the Nintendo Wii console. In 2016, he joined Square Enix, but left in 2022 after being removed as director of the game ‘Balan Wonderworld’. After his departure, he sued the company and publicly criticized it on his social media.
The “Sonic” character has won two film adaptations, one released in 2020 and another in 2022, which together have grossed over $700 million at the box office.
🇧🇷The best content in your email for free. Choose your favorite Terra newsletter. Click here!
Source: Terra
Amanda Larkin is a celebrity journalist at Gossipify, known for her in-depth interviews and unique perspectives on the entertainment industry. She covers celebrity news and gossip, providing readers with engaging and informative content, and understanding of the inner workings of the industry. She’s respected for keeping readers up to date with the latest trends and providing a fresh perspective on the celebrity world.
