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Yuji Naka Pleads Guilty In Square Enix Insider Trading Probe

by Donald Theriault - March 2, 2023, 1:48 pm EST
Discuss in talkback! Source: Dengeki (JP language)

You don't need the Persona 5 or Phoenix Wright police when there's a paper trail.

Yuji Naka has pled guilty in his insider trading case.

The 57-year old veteran of Sega admitted during a hearing today "There is no doubt that I knew the facts about the game before it was made public and bought the stock", referring to the co-developers of the mobile games Dragon Quest Tact (Aiming) and the now-shuttered Final Fantasy VII: The First Soldier (Ateam). The purchases were made in early 2020 when Naka was heading the ill-fated Balan Wonderworld at Square Enix.

A date for sentencing has not been announced. With the guilty plea, Japan's Financial Instruments and Exchange Act offers maximum penalties of a fine of JPY5,000,000 (roughly US$36,500 at press-time market rates) or up to five years in prison.

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