Co-creator of Sonic the Hedgehog arrested for insider trading (Aiming Inc 3911 JP and Square Enix Square Enix 9684 JP)

One of the co-creators of Sonic the Hedgehog was arrested for suspected insider trading while he was employed by Square Enix. Yuji Naka was the lead programmer for Sonic the Hedgehog.

Prior to the announcement that Square Enix will be working with Aiming Inc to develop Dragon Quest Tact ( a mobile spin-off of a long-running RPG series), he was alleged to have bought 10,000 shares in Aiming Inc for 2.8 million yen, or USD 20,000.

His arrest follows those of 2 more former Square Enix employees, Taisuke Sazaki and Fumiaki Suzuki on similar charges. They are alleged to have bough 47 million yen or USD 336,000 of Aiming Inc stock in late 2019 and early 2020. According to the Asahi Shimbun, the 2 sold their shares after the announcement, making tens of millions in profit.

Well, that's legacy destruction, for USD 20,000 worth of shares.