Sonic Co-Creator Yuji Naka to Pay $1.2 Million Fine for Insider Trading, Prison Sentence Suspended - News
by William D'Angelo , posted on 03 August 2023 / 4,460 Views
Yuji Naka, the lead programmer on the original Sonic the Hedgehog and most recently the director for Balan Wonderland, was arrested in November 2020 by the Tokyo District Public Prosecutors Office for insider trading under the Financial Instruments and Exchange Act.
The Tokyo District Court has now ruled Naka had violated Japan's Financial Instruments and Exchange Act for insider trading, which was reported by Jiji Press.
Naka has received two fines that total ¥173 million ($1.22 million) and was sentenced to 30 months in prison, which have been suspended for four years. He will escape prison time as long as he adheres to the conditions set by the order and doesn't infringe on anymore terms or laws during this time.
Naka learned important information about the mobile title Dragon Quest Tact while working at Square Enix. He was said to have purchased 10,000 for about 2.8 million yen ($20,000) before information became publicly available.
A former employee of Square Enix Taisuke Sasaki and acquaintance Fumiaki Suzuki were also arrested on suspicion of insider trading. It is believed the two purchased around 162,000 shares worth about 47.2 million yen ($337,000).
Naka is a video game programmer, designer and producer. He has worked on the original Sonic the Hedgehog series, Nights into Dreams, Sonic Adventure, the Phantasy Star series, and most recently 2021's Balan Wonderworld.
Thanks, VideoGamesChronicle.
A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012 and taking over the hardware estimates in 2017. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel. You can contact the author on Twitter @TrunksWD.
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That is an insanely high fine for somebody that made a $20,000 trade
Yeah, it is.
Hmm, makes sense.
That's how Japan rolls. They believe in preventing crime by making examples of people. It largely works for them, they have some of the lowest crime rates in the world, and they are ranked in the top 10 safest countries by the Global Peace Index as a result, at number 9 for 2023.
That's admirable.
Doesn't seem safe to me, if they treat people in this inhumane way.
That is naive thinking. People commit crimes all the time, very often unknowingly. And other people are wrongly convicted.
Also, I don't live in Japan. Maybe I'll go there someday, but the chances of me having any legal troubles there are extremely low. So, I'm not worried about my own criminal liability. But, that doesn't mean I won't call out terrible treatment of other humans when I see it.
I suppose that is a matter of perspective. If you don't commit crimes, you should have nothing to fear, unless of course someone frames you for a crime. Japan isn't quite as extreme at making examples of people as certain other countries are, for instance, Singapore, which is widely regarded as one of the nicest cities on the planet and is ranked even higher on the top 10 safest countries list than Japan is, has some of the lowest crime rates in the world, with most crime being petty street crimes such as pickpocketing, and violent crime being very rare.
Why are Singapore's crime rates so low? Their penalties for crime are quite harsh. Drug trafficking charges (which require possession of a certain amount of illegal drugs), usually come with a death sentence, unless the accused can prove they were only a mule, in which case the death sentence is reduced to life imprisonment. Murder comes with a death sentence even if it was a crime of passion, not pre-meditated. More minor offenses such as thievery often come with corporal punishment, in the form of caning. Such a thing may seem barbaric to some of us in western countries in 2023, but it is hard to argue with it's effectiveness, considering Singapore has one of the lowest crime rates in the world, and is ranked at number 6 on the Global Peace Index ranking of safest countries. Would Singapore be even one quarter as safe if they gave criminals a metaphorical slap on the wrist punishment, like say California by comparison often gives criminals? Seems rather unlikely.
Yes, you're right that it is a matter of perspective. And my perspective is that inhumane treatment of people convicted of crimes is a safety issue. People commit crimes all the time, often unknowingly. And even when done knowingly, unreasonable punishments are still unreasonable. So, it is absolutely possible for anybody to get caught up in "crime", whether they intend to or not.
And, you're right that Singapore is worse. But that doesn't make a $1.2 million fine for someone that is essentially a regular person any better. It just means that Singapore is worse.
Now with that said, I don't know how things work in Japan. Maybe the fine is just a bullshit number that doesn't need to be paid, and nothing happens to him if he doesn't pay it.
And as it should be. Very admirable of Japan. Not just that, but not even playing favorites for celebrities. Awesome.
and if dont pay it hes going jail
Is there where Yuji-Naka's story arc ends?
