Yuji Naka Faces $1.2 Million Fine and Suspended Prison Sentence for Insider Trading | Push Square
Reports coming out from Japan contain the final sentence for Yuji Naka, best known for his contributions to the Sonic the Hedgehog series. After pleading guilty to charges of insider trading, Naka has been sentenced to a prison term of two and a half years, suspended for a period of four years. Additionally, he faces two fines totalling ¥173 million (roughly $1.2 million).
The suspended prison sentence means that he won't be required to serve it unless, within four years, he deviates from the conditions set by the order or commits further offences. However, he will have to pay the fines regardless. As mentioned, Naka pled guilty to the charges and apparently showed remorse for his actions during court hearings, which will have helped prevent the sentence from being more severe.
Naka was arrested twice last year. Both of these were under charges of insider trading during his time at Square Enix. He apparently became aware of a new Dragon Quest mobile game in development (Dragon Quest Tact) and purchased shares in the developer before the game's announcement, with a view to selling them later when the studio's share value increased. It was a similar story with mobile title Final Fantasy: The First Soldier. His purchasing and selling of stock using this inside knowledge earned him a profit of just under ¥23 million (about $163,000).
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