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Steven Nerayoff Lawsuits Will Reveal Facts Supporting Claims Against Key Ethereum Figures, Says Attorney

In a new development in the ETHGate saga, Steven Nerayoff’s attorney, Michael Scotto, has stated that they possess substantial evidence to support upcoming lawsuits against the U.S. Government and other private entities. Additionally, they plan to file whistleblower reports, some of which are expected to implicate significant figures from Ethereum’s early stages.

In an interview with Cryptonews.com, Scotto outlined their strategy to challenge the “false narrative” surrounding his client by presenting factual revelations in the lawsuits. These legal actions are slated to be filed in both New York State and Federal Courts.

Steven Nerayoff, an early insider in the Ethereum ecosystem, endured years of legal battles against government allegations of extortion before finally having charges dismissed earlier this year. He is now pursuing legal avenues for redress.

Scotto emphasized that Nerayoff holds no animosity towards Ethereum itself; in fact, he remains a supporter of its success, expressing a pro-crypto and pro-Ethereum stance philosophically. However, Nerayoff takes issue with the project’s development and has reservations about specific actions taken by certain leaders.

While the veracity of Nerayoff’s claims is yet to be confirmed, Scotto revealed that the impending lawsuits are likely to include allegations of malicious prosecution and breach of contract, involving hundreds of millions in unpaid deals. The whistleblower filings will be specifically tied to ETHGate.

As evident in the recently published recording by Nerayoff, he played a pivotal role in providing strategic guidance to Ethereum co-founder Vitalik Buterin in 2015, addressing mounting structural, legal, and financial challenges faced by the project at that time.

In a post on November 15, Nerayoff hinted at the potential inclusion of fraud allegations in the forthcoming lawsuits.

“The recording isn’t directly related to the fraud but will illuminate a lot of what was really happening & show my involvement. The fraud will be in the lawsuit,” he wrote in the post.

Despite acknowledging the necessity for change, Buterin, as revealed in the recording, appeared hesitant to make crucial decisions. A proposed restructuring plan was also discussed but never fully put into action.

Steven Nerayoff Exonerated After Years Defending Against Charges

Scotto clarified that from September 2019, when Nerayoff was arrested, until the dismissal of charges earlier this year, his client’s primary focus was on defending himself. According to Scotto, Nerayoff considered the fight for his life and reputation against unfounded allegations as the top priority, delaying the release of recordings featuring himself and Buterin.

“It’s not an exaggeration to say [he was] fighting for his life, and frankly, we were only able to go on the offensive this past February when we filed our motion to dismiss,” Scotto explained. “The case was eventually dismissed on the government’s motion because our motion proved they knew he was innocent and charged him anyway, and they ignored that evidence and simply said ‘Oh yeah, we can’t prove his guilt.'”

Now that he has been exonerated, Steven Nerayoff is taking a proactive stance against those he believes exploited the situation. Scotto noted that Nerayoff endured years in court until he could completely clear his name.

“The idea was to kind of coordinate those (the recordings and lawsuits)… And so that’s coming shortly,” Scotto shared with Cryptonews.com. “…The idea was we would put this out there because when those lawsuits became public, we didn’t want people to then question who Steve was and what happened.”

Scotto explained that the dismissal of charges against Nerayoff came after revelations that government officials were aware of his innocence at least seven months before his arrest. Additionally, it was disclosed that his alleged co-conspirator was an FBI informant who deceived Nerayoff, leading to the loss of hundreds of thousands of dollars.

Lawyer Hints at SEC Role in Ethereum Investigation

Scotto asserted that the forthcoming facts would shed light on “coincidences between certain events that were going on at the SEC and steps that were being taken” against Nerayoff. He highlighted that one facet of the lawsuits would revolve around “malicious prosecution.”

“That’s a big one,” he emphasized. “And then a couple of breach of contract cases on some of these deals that people basically either took advantage of the situation or [were] a part of creating the situation in order to stiff Steve of literally hundreds of millions of dollars.”

Scotto indicated that the complete sequence of events would clearly reveal instances of malicious prosecution. In the next few weeks, Nerayoff plans to release Ethereum whistleblower filings and file the malicious prosecution lawsuit, backed by ample evidence supporting claims of hundreds of millions in damages resulting from broken deals.

Buterin and Lubin Silent Amid Accusations

The Ethereum leadership has maintained public silence in response to the bold accusations of dubious activities. Scotto expressed his view that the absence of a denial from Ethereum leaders is notable, particularly considering the nature of the allegations.

Nerayoff’s frustrations extend to parts of the crypto media that have allegedly refused to cover his exoneration and the surrounding questionable circumstances. In response, he took the unconventional step of releasing a collection of five Buterin recordings directly on the blockchain, decentralizing the information to ensure the story reaches the public.

Ethereum Community Faces Moment of Reckoning

If proven true, the recent allegations could pose a crisis moment for Ethereum, raising doubts about its origins and Vitalik Buterin’s leadership. As Ethereum aims to serve as a Web3 backbone, this controversy has the potential to intensify existing concerns about stagnant Ether prices and developer frustrations.

“It’s up to other people to decide, but I think people will be able to judge based on these objective facts and conclusions that they can draw based on those facts,” Scotto commented on the situation, highlighting the importance of individuals forming their own assessments based on the presented evidence.

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