Thursday, March 2, 2023

‘Sonic the Hedgehog’ creator to lose gold rings after admitting to insider trading

A former Sonic the Hedgehog executive wasn’t fast enough to run away from the law and is about to lose so many gold rings. Yuji Naka, known as the former head of Sega’s studio’s Sonic Team, faced trial recently after he was arrested last year for insider trading whilst working with Square Enix.

Japanese news outlet NHK reported on the trial. It was revealed that the video game creator was accused of violating Japan’s 2006 Financial Instruments and Exchange Act, which regulated the stock exchange and trading. It was alleged that Naka and other former Square employees illegally purchased stock right before official game announcements. It was revealed that the game developer purchased around ¥144.7 million ($1.08 million) in developer’s stock.



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