Yuji Naka indicted over Square Enix insider trading allegations

Yuji Naka

After being arrested twice, famed designer and programmer Yuji Naka has been indicted over ongoing insider trading charges.

Naka has been formally indicted (via NHK News) alongside his ex co-worker, Taisuke Sasaki, over their alleged insider trading charges.

The actual indictment was issued back on December 7th, but was only made public this week.

It’s been a few weeks since then, however, the  Tokyo District Public Prosecutor’s Office has not  disclosed the acknowledgment or disapproval of either case.

Yuji Naka was originally arrested for buying stocks in developer Aiming, allegedly with the knowledge they would be hired to develop the mobile game Dragon Quest Tact — before it had been announced.

Both Naka and Sasaki were then arrested later over the above charge, as well as another insider trading charge for developer Ateam – again before Final Fantasy VII: The First Soldier had been publicly announced.

It’s worth comparing the alleged insider trading between both charges – Aiming only had Yuji Naka buying 10,000 shares but he bought a whopping 100,000+ shares in Ateam.

Due to their investments in both developers and the subsequent stock value increase, both Naka and Sasaki earned hundreds of millions of yen from both investments.

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