Former Ethereum Advisor Sues US Govt for $9.6B Over False Charges

Published 10/04/2024, 15:14
Updated 10/04/2024, 15:15
© Reuters Former Ethereum Advisor Sues US Govt for $9.6B Over False Charges
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  • Steven Nerayoff has sued the U.S. government for $9.6 billion.
  • Nerayoff alleged that federal agents “maliciously” investigated and prosecuted him.
  • He claims the $9.6B is for reputational damage caused by the legal battle.

Steven Nerayoff, a former Ethereum advisor, has sued the U.S. government for $9.6 billion. According to reports, the renowned crypto personality alleged that federal agents “maliciously” investigated and prosecuted him for about four years.

Posting about the lawsuit on X, Neyaroff noted that his Federal Tort Claims Act (FTCA) lawsuit is a stand against unrestrained corruption. He claimed the suit is also for all the people wrongly accused and to ensure justice against those who have been a part of his legal travails.

In a filed legal complaint, Nerayoff’s lawyers noted that government agents fabricated charges against their client in 2019. The legal team claimed the government subpoenaed, surveilled, and arrested Nearyoff despite knowing the charges against him were “factually and legally baseless.” They also alleged the government’s actions were part of a “collective and concerted fishing expedition.”

Federal agents arrested Nerayoff in 2019 over an alleged 10,000 ETH extortion from a crypto startup. The legal battle dragged on for about four years and ended after the U.S. government dismissed the lawsuit in May 2023.

In the latest filing, Nerayoff’s lawyers claimed the actions of the federal agents caused their client “significant damages and injuries.” An excerpt from the lawsuit read:

“As a direct and proximate result of the wrongful conduct of federal agents and/or officers, Mr. Nerayoff’s well-being, personal life, and career were irreparably harmed.”

Nerayoff’s lawyers further noted that the $9.6 billion in damages covers losses their client incurred due to the harm the legal battle caused his reputation. According to the lawyers, Nerayoff’s business partners abandoned him during the four-year court proceedings.

Furthermore, the lawyers noted that the abandonment caused their client to miss out on making billions of dollars during the crypto market bull run. They also argued that the lawsuit hindered Nerayoff from making “hundreds of millions of dollars from consulting contracts.”

The post Former Ethereum Advisor Sues US Govt for $9.6B Over False Charges appeared first on Coin Edition.

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