Leaked Documents Allege Ashes of Creation Founder Faked Self-Funding Claims in $115M Deception
The sudden collapse of Intrepid Studios has left the gaming community with more questions than answers, but a new investigative video may have just filled in the blanks. Content creator NefasQS has released an extensive report based on alleged private documents and text messages from a primary investor, painting a damning picture of the financial reality behind the now-defunct MMORPG, Ashes of Creation.
While founder Steven Sharif famously touted the project as being free from “corporate overlords” due to his own personal wealth, the video alleges this was a fabrication. Instead of self-funding, documents suggest Sharif raised upwards of $115 million through a network of private investors and high-interest loans, all while the studio teetered on the brink of insolvency for years.
Key allegations from the video include:
The Self-Funding Myth: The report claims Sharif never invested a single cent of his own money, relying entirely on external debt and investors to keep the lights on.
Payroll Panic: Leaked text messages appear to show Sharif repeatedly scrambling for emergency short-term loans just days before payroll, contradicting his public projection of financial stability.
Desperate Pivots: The controversial battle royale mode, Ashes of Creation Apocalypse, is alleged to have been a last-ditch effort to chase Fortnite revenue trends rather than a creative design choice.
Investor Fallout: The source of the leak, investor Jason Caramanis, is reportedly suing Sharif out of principle after allegedly liquidating millions in personal assets to prop up the studio based on false promises.
For a full breakdown of the timeline and the 380+ pages of leaked communications, check out the video below:
