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    Yuji Naka Admits in Court to Insider Trading Allegations

    By Christian PepitoMarch 3, 20231 Min Read
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    Game developer and Sonic creator Yuji Naka pleads guilty in court to the charges of engaging in insider trading.

    Naka admits to insider trading when he was developing his recent game Balan Wonderworld with Square Enix. He purchased stocks of Ateam Entertainment Inc. with the knowledge that Dragon Quest and Final Fantasy mobile games developed by them will be announced after a short while. That was illegal in Japan since it was unfair to other traders who did not have prior knowledge.

    Yuji Naka Appears To Admit Guilt Over Insider Trading Case https://t.co/EQb7F7c2n7 #YujiNaka #Legal #Japan pic.twitter.com/MsDsAhDfLc

    — Nintendo Life (@nintendolife) March 2, 2023

    Naka is now charged with violating the Financial Instruments and Exchange Act. This is his statement that confirms his involvement in the case of insider trading, translated into English.

    “There is no doubt that I knew about the existence of these games before they were publically announced and bought stocks.”

    Naka worked with SEGA from 1984 to 2006. He is known for his creation of Sonic the Hedgehog. He developed his new creation Balan Wondeworld but it flopped on day one.

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    Christian Pepito

    Meet our dedicated gaming news writer, a true aficionado of hardcore JRPGs, PS1 Classics, and the thrill of stealth-action games. He enjoys playing the games he collects, friendly or competitive tabletop card games, and is constantly on the quest for the ultimate ramen experience.

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