Unfair Practices Jeopardize Market Stability and Investor Trust These shares were from the two companies collaborating with Square Enix on the game development, and he acquired them before the information went public. Naka, leveraging his insider knowledge about the imminent development of mobile games linked to the internationally beloved Dragon Quest and Final Fantasy franchises, procured shares estimated at around 148 million yen during 20.
The ruling painted a clear picture of the situation. In addition, he was slapped with a hefty fine of 2 million yen (around $14,000) along with an overwhelming 171 million yen in supplementary charges.
Naka, 57, received a prison sentence of two years and six months, which was suspended for four years. The individual in question, Yuji Naka, a noted figure in the gaming world and one of the creators of the iconic Sonic the Hedgehog video game series, was met with a stern verdict. Yuiji Naka: Renowned Sonic Creator Caught in Insider Trading Turmoil He utilized confidential information about the upcoming mobile games, being developed in collaboration with two other renowned gaming companies, before the news reached public knowledge. The former employee was handed a suspended prison term by a Tokyo court for engaging in insider trading.
In a startling turn of events, an ex-employee from the global gaming titan, Square Enix Co., found himself on the wrong side of the law. Another Square Enix Ex-Employee Charged with Insider Trading.Unfair Practices Jeopardize Market Stability and Investor Trust.Yuiji Naka: Renowned Sonic Creator Caught in Insider Trading Turmoil.
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