Yuji Naka indicted in Square Enix insider trading case - allegedly purchased almost $900,000 of stock based on insider information.

TL;DR

Sonic the Hedgehog co-creator Yuji Naka and former Square Enix employee Taisuke Sasaki have been formally indicted following their arrest for alleged insider trading offenses.According to NHK, the Tokyo District Public Prosecutors Office has determined that Naka had confidential information that Square had planned to develop a Final Fantasy spin-off, Final Fantasy VII: The First Soldier with mobile developer ATeam Entertainment.It was alleged at the time of his first arrest that Naka was also implicated in a similar scheme surrounding the mobile game Dragon Quest Tact, developed by Aiming.It’s alleged that before Dragon Quest Tact was announced, Naka – who was working on Balan Wonderworld for Square Enix at the time – purchased approximately 10,000 shares of Aiming stock for around ¥2.8 million ($20,000).At the time of the first arrest, Square Enix publicly committed to working with authorities on the matter."

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