Japanese developer Yuji Naka, former head of Sonic Team and veteran publisher SEGA, has been re-arrested by Japanese police in a securities insider trading case.
Recall that the first arrest of Naki was reported last month. The developer was accused of buying shares in Aiming Inc., which, together with Square Enix, was developing the mobile game Dragon Quest Tact.
According to media reports, the developer learned about the project long before its official announcement and invested 2.8 million yen (approximately $20,000) in Aiming Inc., expecting the company’s stock price to jump sharply after the announcement of Dragon Quest Tact.
Now Yuji Naka is facing a similar case, only with respect to another Square Enix mobile game battle royale Final Fantasy VII: The First Soldier.
Naka obtained confidential information from working at Square Enix on Balan Wonderworld. He invested about $834,000 in ATeam Entertainment, the company that produced Final Fantasy VII: The First Soldier. Naka hoped to see the value of the shares acquired increase after the project’s official announcement. He was gonna sell them right away to make a quick buck.
Square Enix has not commented on the situation.