Yuji Naka, former SEGA developer and co-creator of the Sonic the Hedgehog franchise, has been slapped with fines totalling $1.2 million for being found guilty of insider trading.
The Balan Wonderworld creator was sentences to 30 months in prison, suspended for four years, after the Tokyo District Court ruled that Naka-san — having illegally purchased shares based in inside info — had violated Japan’s Financial Instruments and Exchange Act.
Due to his suspended prison sentence, Naka may avoid going to jail providing he sticks to the conditions set by the order and doesn’t infringe on other terms or laws during this period.
Naka was arrested in November 2022 where it was alleged he had been aware that Japanese studio Aiming was creating a Dragon Quest mobile title prior to it being officially revealed. He reportedly purchased 10,000 shares of the developer’s stock for $20,000 with the goal of selling them once Dragon Quest Tact was announced.
The following month, the Sonic co-creator was arrested again for his part in an insider trading scheme surrounding Final Fantasy VII: The First Soldier.