Sonic the Hedgehog co-creator Yuji Naka has admitted his guilt in taking part in an insider trading scheme at Square Enix.
Naka then allegedly bought approximately 10,000 shares of Aiming stock for around ¥2.8 million , with the intention to sell it again once the game was announced and Aiming’s stock value increased.in December, relating to allegations that he had carried out similar insider trading after learning confidential information that Square was planning to make Final Fantasy VII: The First Soldier with mobile developer ATeam Entertainment.
It’s claimed that, armed with this knowledge, he then bought 130,000 shares, earning a profit of over ¥20 million upon their sale. Following Naka’s first arrest, and those of former Square Employees Taisuke Sazaki and Fumiaki Suzuki who were also accused of being involved, the Final Fantasy publisher committed to working with authorities on the matter.
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