Yuji Nakahasn’t had the best 2022, and as per recent reporting, it won’t end on a high note either, for Japanese publicationNHKhas stated that Naka has been officially indicted for insider trading following hissecond arrest.
Yuji Naka is an acclaimed and iconic developer, credited for conceptualizing and developing the firstSonicgame, as well as helming the series for numerous years following, over atSega. Most recently, Naka worked atSquare Enix, where he led development for the critical failure, 2021’s Balan Wonderworld. He left the company shortly after and laterclaimedthat he was ripped from the project prior to completion.
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In November 2022, it wasrevealedthat Naka had been arrested for allegedly engaging in insider trading when working at Square Enix. He supposedly invested approximately $20,000 in a company that was set to release a mobile game based on a Square Enix property, that beingDragon Quest. It seemed that the consequences of this first arrest weren’t so severe, and he was let go, presumably via bail. But only a few weeks later, Naka was arrested again.
This time, he’d been found to have purchased approximately $834,000 worth of shares of a development studio, ATeam, which was also making a Square Enix mobile game, Final Fantasy VII: The First Soldier. Given that Naka was working at Square Enix at the time of these purchases, this means he was making investments with insider knowledge, a highly prosecutable criminal offense in most jurisdictions.
Now, Naka has been indicted, meaning he’s been officially charged with insider trading and could face a serious penalty, such as a sizeable fine, or even jail time. According toVGC, Tokyo police have confirmed that Naka had “confidential information that Square had planned to develop aFinal Fantasyspin-off.” Unlike the first allegation, Naka is set to face much more serious consequences given the much higher amount of profit that he was potentially able to accrue from the ATeam investment.
Naka’s options in this situation are unknown. It’s unclear if he can make some sort of settlement, and if so, how much it would ease his sentence. As it stands, Naka is set to go to trial for his crimes, but there’s currently no timetable as to when this would take place.
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