Sonic the Hedgehog co-creator Yuji Naka has received a $1.2 million fine and a suspended prison sentence for insider trading
As reported by Japanese news agency, the Tokyo District Court ruled that Naka had violated Japan’s Financial Instruments and Exchange Act, by illegally buying shares based on inside information.
The judge sentenced Naka to 30 months in prison, suspended for four years. This means Naka will escape a prison term as long as he adheres to the conditions set by the order and doesn’t infringe on any further terms or laws during this time. However, Naka also received two fines totalling ¥173 million , meaning that although he may not have to go to prison for his part in the insider trading scheme, he will certainly pay a substantial financial penalty.in March, saying that there was “no doubt” he was guilty in taking part in the insider trading scheme.
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