Following an arrest for alleged insider trading charges, Sonic the Hedgehog and Balan Wonderworld creator Yuji Naka has pleaded guilty in the Tokyo District court. The creator was involved in insider trading with stocks for Ateam Entertainment, the developer of the Final Fantasy VII: The First Soldier mobile battle royale RPG.
Yuji Naka pleads guilty to insider trading charges involving Ateam Entertainment as of March 2, 2023. He is formally charged with violating the Financial Instruments and Exchange Act in Japan. This regulatory act regulates securities laws and companies in Japan by ensuring the fair and lawful exchange and acquisition of shares and stocks.
Previously, Yuji Naka was arrested for alleged insider trading involving Dragon Quest Tact developer Aiming and publisher Square Enix. Naka purchased roughly 2.8 million yen in Aiming stock ahead of the game’s announcement to the public. The Sonic the Hedgehog creator was arrested a second time for another insider trading scheme involving Ateam Entertainment and knowledge of Final Fantasy VII: The First Soldier before its announcement. He’s currently charged for the Ateam Entertainment case only.
“There is no doubt that I knew about the existence of these games before they were publicly announced and bought stocks,” Yuji Naka said in the Tokyo District court (Thanks, Siliconera).
Balan Wonderworld is currently available now for Nintendo Switch, PlayStation 4, PlayStation 5, Xbox One, Xbox Series X|S, and PC via Steam.
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