• Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.

Yuji Naka indicted in Square Enix insider trading case (likely going to prison)

Draugoth

Gold Member
Yuji-Naka-768x479.jpg

source

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.

Using this information, the Sonic the Hedgehog creator purchased ¥144.7 million yen ($834,000) of company stock, with the knowledge that stock value in the company would rapidly rise following the public announcement of the collaboration. Sasaki also allegedly purchased ¥105 million yen ($787,318) of stock.

It is currently unclear when Naka or Sasaki will stand trial.
 

IntentionalPun

Ask me about my wife's perfect butthole
Thought I was having a déjà vu moment until I realized this is the second time in as many months he's been arrested for insider trading...

Dude probably knew he was double-fucked after his November arrest considering he did all this trading a couple years back lol
 
He should know that only politicians are allowed to insider trade.



On a personal note, one place I worked at had another tenant in the other side of the building, which was a mining company.
They were also prospecting and every so often would get their drilling results in from their leases. Their board room was right next to my office on the other side of a flimsy wall with no sound proof between it. I could hear everything that they said.
So when they had these meetings with the directors they would talk about the latest drilling results and what they would put in their press releases etc. You would also hear them say shit Luke "now everyone needs to adhere to their obligations about confidentiality and in no way can you recommend anyone to buy or sell shares (it was publicly traded) as it is against the law.
So I would just open my share trading platform and buy their shares when it was good news and then wait for a bit to sell and repeat the process.
 

Ozzie666

Member
He got away with making Balan.
He got away with Sonic Saturn debacle.
He got away with treating Mark and STI like crap.
Some might say this karma, kismet or delayed justice for being an asshole.
But honestly, this seems pretty dam serious. With his level of arrogance, this is not surprising.
 

ANDS

King of Gaslighting
Just a dumb thing to do. Everyone, on even a most basic level, has to know what insider trading is. Marth Stewart at a minimum should have clued folks in how dangerous it can be to jump on a "hot tip" (though they didn't really get Stewart for insider trading, it at least should have clued people in to how slippery this shit can be). Flat out purchasing stock based SOLELY on information you have that the generally public doesn't is insane.

This is absolutely nothing compared to the fuckery that goes on in the US stock market. If only the SEC would do something about that, maybe my shit wouldn't be decreasing on a fucking daily basis.

The SEC doesn't sit on their hands.
 

coffinbirth

Member
Just a dumb thing to do. Everyone, on even a most basic level, has to know what insider trading is. Marth Stewart at a minimum should have clued folks in how dangerous it can be to jump on a "hot tip" (though they didn't really get Stewart for insider trading, it at least should have clued people in to how slippery this shit can be). Flat out purchasing stock based SOLELY on information you have that the generally public doesn't is insane.



The SEC doesn't sit on their hands.
Check out Feb. 28th 2022 on there. Ew.
 

Saber

Gold Member
Hope they also jails Sonic for crimes against humanity.
Anyway, sad end for Yuji. You will still be remembered for your Sonic games. Though they will also remember that Balan bullcrap...
 
Last edited:

BlackTron

Member
Man what a fall from grace. First you put out Balan W and now this.

When Miyamoto finally leaves the scene it's gonna be some Michael Jackson/Elvis grade craziness.
 

Puscifer

Gold Member
This is absolutely nothing compared to the fuckery that goes on in the US stock market. If only the SEC would do something about that, maybe my shit wouldn't be decreasing on a fucking daily basis.
Yeah I had fun when the market was absolutely nuts between 2014 and 2020 when just dumping into the S&P and DOW was guaranteed returns. Can't say that now, depending on the market post holidays I'm likely pulling out, I can't keep losing money like this.
 
Last edited:

anthony2690

Banned
That sucks, I like Yuji Naka, he made some of my fave childhood games ever.

Wait till we find out Sqaure Enix has framed him due to Balan Wonderworld. (I have a sealed copy of that on my shelf that I got for £5 from Smyth's toys last year) XD
 

SF Kosmo

Al Jazeera Special Reporter
This is absolutely nothing compared to the fuckery that goes on in the US stock market. If only the SEC would do something about that, maybe my shit wouldn't be decreasing on a fucking daily basis.
It's true, if we prosecuted this sort of thing effectively in the US, Congress would be empty.
 

Jinzo Prime

Member
This is such a cut and dry case of insider trading, and its so easy to do.

Just remember to talk to a CPA before making large securities purchases, and if a deal is too good to be true, than it probably is!
 
Top Bottom