Yuji Naka formally indicted in Square Enix insider trading case
From bad to worse
Well, the situation for famed game developer Yuji Naka has gone from bad to worse. We’ve already reported on two separate occasions that Naka was arrested under suspicion of insider trading at Square Enix, using early information about upcoming games/collaborations to buy stock and make a quick buck. Now things have escalated, and Naka has been formally indicted in these cases.
According to Videogames Chronicle, the Tokyo District Public Prosecutors Office has determined that Naka did indeed have inside information about upcoming titles, and illegally used that knowledge to purchase ¥144.7 million yen ($834,000) of company stock.
Square Enix employee Taisuke Sasaki was also arrested for the same accusations, and they too have been indicted for the matter.
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ngamer01
Rumors say since Yuji didn't earn enough money in the alleged insider trading, that he may get off on a suspended sentence if found guilty (either Yuji pleads guilty or is found guilty by the court of law).
sligeach_eire
5M agoThis is looking more and more damning for Yuji Naka. I haven't seen any sites, however, say what possible sentence he will potentially face if he's found guilty.
Rumors say since Yuji didn't earn enough money in the alleged insider trading, that he may get off on a suspended sentence if found guilty (either Yuji pleads guilty or is found guilty by the court of law).
martynstuff
5M agoAt this rate, Yuji Naka should've stolen some stationery supplies from Square-Enix while he was at it
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