Yuji Naka has reportedly been arrested as part of the Square Enix insider trading investigation | VGC - Video Games Chronicle

Two former Square Enix employees have already been arrested.

Former Sonic Team head and Sonic the Hedgehog programmer Yuji Naka has reportedly been arrested in relation to the ongoing Square Enix insider trading investigation.

On Thursday two former Square Enix employees were arrested in Tokyo as part of a suspected insider trading scheme.

It’s alleged that before Dragon Quest Tact was announced, Naka – who was working on Balan Wonderworld for Square Enix at the time – purchased approximately 10,000 shares of Aiming stock for around ¥2.8 million ($20,000).

Following the arrests of the original two suspects, Square Enix made a statement confirming that the pair were former employees and stating that it was working with authorities on the investigation.

“Today, some media outlets reported that the former employees of Square Enix were under investigation for suspected insider trading,” the statement reads.