Yuji Naka, Sonic's co-creator, was arrested once again for potential insider trading.

The Asahi Shimbun, a Japanese news outlet, announced that Yuji Naka was arrested again, along with other former Square Enix employees. The reason for their arrest was reportedly insider trading. Insider trading, for those who are not familiar, is the act of buying or selling stocks with knowledge not available to the public. People sometimes do this when they have information about a major change in the company, such as acquisitions or the like. They could be buying the stocks when it is relatively cheaper, then selling them once the major change occurs. This would net them a profit.

Insider trading is illegal in Japan, so it's no wonder that Naka and the other employees were arrested. In this case, Naka reportedly knew about Square Enix's plans to work with ATeam Entertainment, a game development studio, for an upcoming mobile game. The game in question was Final Fantasy VII: The First Soldier. This knowledge is non-public and was something Naka reportedly knew. After finding out about it, Naka reportedly purchased 120,000 shares in the company. This cost him 144.7 million yen, or around $834,000.

I say in this case, as this is not the first time that Naka was arrested for supposed insider trading. Back in November, Naka was also arrested for, you guessed it, insider trading. This time, Naka bought 10,000 shares worth of stocks from Aiming, a Japanese game developer. Aiming was developing Dragon Quest Tact, a mobile Dragon Quest game. The 10,000 shares were worth 2.8 million yen, or around $20,000.

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Franz Christian Irorita ·

This makes it the second time that Yuji Naka was arrested for insider trading. Square Enix is already committed to working with the proper authorities to help bring Naka to justice. It's actually a wonder that Naka didn't learn from his first arrest, as he proceeded to make yet another insider trade. Whether he will learn from this second arrest or will commit the crime again a third time is up in the air. Let's just hope that it's the former.

That's all the information we have about Yuji Naka's arrest. To stay updated on gaming news, you can check out our gaming news articles.