The $3.2 million Kickstarter that was supposed to build a next-generation MMORPG is now the centerpiece of a bitter public dispute, and the allegations keep piling up.
Ashes of Creation, the MMORPG developed by Intrepid Studios, was pulled from Steam in February after years of development and significant backer investment. Since then, the fallout between former CEO Steven Sharif and the studio's board has played out in federal court and, increasingly, in public. Now a new YouTube report is adding fuel to an already raging fire.
What the NefasQS report actually claims
On April 11, YouTube channel NefasQS published an extensive video report claiming to have obtained and processed the entire Intrepid Studios general ledger from 2015 to 2026. The data, NefasQS says, reveals a studio that "was on the threshold of financial death at multiple points in its history."
The report centers on an alleged spreadsheet, which NefasQS published publicly, listing studio payments. The core allegation is that Sharif and his husband, John Moore, directed company funds toward personal expenses rather than game development.
The specific claims are detailed:
- Payments to a personal chef, alleged to have worked privately for Sharif and Moore rather than the studio
- $41,717 in payments to auction sites for historical collectibles
- A $421.91 payment to a luxury cigar retailer
- Tens of thousands of dollars in payments to trading card game and miniature figurine storefronts
The most significant allegation involves a company called Gore Oil, which NefasQS states received $81,166 from Intrepid Studios. Gore Oil Company was the deed owner of Sharif and Moore's San Diego mansion, a property sold to the couple on April 11, 2020, for $4.9 million.
None of these allegations have been proven in court. Sharif disputes the accuracy of the underlying data, and the matter is currently being litigated in the United States District Court of Southern California.
Sharif's direct response
Sharif didn't stay quiet. In a statement to Kotaku, he pushed back hard on both the report and its sourcing. "NefasQS has been fed false and defamatory information by individuals with an axe to grind, in an effort to litigate this dispute in the public domain alongside our lawsuit already pending in federal court," he said.
He went further, calling out the reporting methodology directly: "Rather than verify those claims, he has chosen to repeat them, acting as a mouthpiece to advance a narrative that drives clicks and views, with disregard for basic journalistic standards."
On the specific misappropriation allegations, Sharif was categorical. He said there was no misuse of Kickstarter funds and that any claims about personal lifestyle spending were "categorically false." His broader argument is that the parties making these allegations are the same ones he claims orchestrated what he calls an "unlawful foreclosure" to seize control of Intrepid's assets.
Sharif had previously posted a public statement in March following what he described as his "first legal victory" against the Intrepid board in the Southern California federal court. That context matters here: both sides are actively fighting in court, which means everything being said publicly right now has legal strategy baked into it.
Attempts to suppress the video
Shortly after the NefasQS video went live, someone filed a privacy complaint against it on YouTube. NefasQS noted this in the video's comments section, writing: "Someone already filed a privacy complaint against this video, just a heads-up but we will be disputing it. Someone also reported my Reddit account from our community subreddit to the admins."
NefasQS did not attribute these actions to any specific individual.
Where this leaves the backers
Here's the thing: the people most affected by all of this are the backers who put $3.2 million into a game that no longer exists on Steam. The legal battle between Sharif and the board is ongoing, the spreadsheet data is disputed, and the veracity of both sides' claims remains genuinely difficult to verify without access to the court record.
What is clear is that the dispute has moved well beyond a standard studio shutdown. The allegations now involve potential misuse of crowdfunded money, active attempts to suppress reporting, and parallel battles in both federal court and the court of public opinion.
For backers tracking the situation, following the federal court proceedings in the Southern California district will give the clearest picture of what actually happened to their money. You can also keep up with the latest gaming industry news through gaming news as this story develops.
