Insider Trading Yuji Naka Sentenced, Fined Millions, Likely to Avoid Jail Time

[nuckles87]

Yuji Naka, the man best known as the co-creator of Sonic the Hedgehog, NiGHTS into Dreams, and his work on Phantasy Star, has been been sentenced to two and a half years of prison, but that sentence has been suspended for four year, during which time he’ll be on probation.

Provided he has no trouble with the law, he’ll never serve time in prison. He has also fined two separate times for ¥20 million and ¥170 million, or a total of roughly $1.25 million USD.

This comes after a seven-month-long legal battle where Naka attempted to, among other things, blame his secretary for giving him information he wasn’t supposed to have in an attempt to get a lighter sentence.

via Twitter

View full story

[SolidSurgeTT]

Now I think his defense is kind of weak but...I'll be honest: if there were some way to skirt the consequences I would probably commit insider trading too and I feel like a lot of people out there are more afraid of the consequences than feeling some sort of moral compulsion to not play dirty on the stock market.

[MetalSkulkBane]

45 minutes ago, SolidSurgeTT said:

I feel like a lot of people out there are more afraid of the consequences than feeling some sort of moral compulsion (...)

That applies to many ethical dilemma in life. From Christianity to Santa Claus, everything is based "be good or consequences", keeping people awake at night as they wonder if they're good people or just scared of risks.

Although I guess insider trading feels like "victimless crime" doesn't it? Like riding a bus without a ticket.

[SolidSurgeTT]

Exactly. So you got some dirt on a company that you know will affect their stock price? Oh the humanity if you used that to make a buck.

[Sonicstitch]

1 hour ago, SolidSurgeTT said:

Exactly. So you got some dirt on a company that you know will affect their stock price? Oh the humanity if you used that to make a buck.

Like if you were playing cards with someone, and you saw a reflection of the other guy's cards in their glasses, while you were staring into their eyes trying to tell if they were bluffing.

[FReaK]

that's a ton of money. but at least there is no need for a fox and a pink hedgehog to get him out of prison now, lel.

[Tornado]

Okay but how can we make this about him leaving Sonic Team during 06's development?

[Ghelatlishol]

There's a reason people say never to mess with another man's money. That's what this gets you: no matter what your reasons or how much you thought you'd get away with it, when you mess with someone else's money, they'll come after you with a vengance.

It's telling that fraud in some places will get you more jail time and harsher sentences than actual murder. The lowest level of hell in Dante's Inferno isn't for murderers, it's for Traitors to Benefactors.

I mean, come on.

Edited July 7, 2023 by Ghelatlishol