Steven Sharif was for a long time the head of the development studio responsible for Ashes of Creation. However, there were layoffs, after which the project was completely shut down. Now, Sharif himself is speaking out, against whom serious allegations have already been raised.
What is Sharif’s reaction to the allegations? In an 11-page document, Steven Sharif reacts to the previous allegations and explains his view on the collapse of Intrepid Studios.
- The former studio head accuses the board, particularly the chairman Rob Dawson, of allegedly pursuing an illegal strategy. As Sharif explains, it was supposed to be for their own advantage to gain control over the company’s assets and intellectual property.
- According to Sharif, the board intentionally starved the company financially to provoke a default. This is supposed to explain the over 200 employees, who reportedly did not receive their wages.
- Furthermore, the former studio head accuses the accused board members of allegedly attempting to deceive a bank as the main lender and secretly redirecting revenue from the Steam sales into a new company controlled by the board.
- Additionally, he firmly rejects the allegations of misappropriation or mismanagement of company funds. Instead, he emphasizes that he invested millions from his own capital over the years, personally guaranteed loans, and provided private loans to cover operational costs.
- He explained his resignation on January 19, 2026, by stating that it was probably his only remaining leverage. He refused to endorse what he deemed illegal actions and terminations by the board.
- Ultimately, Sharif accuses the board of having lost control due to massive pressure, coercion, and ongoing threats.
Whether Steven Sharif is actually in the right can only be assessed based on this statement. Such a statement is a biased representation in an ongoing legal dispute aimed at influencing public opinion and legitimizing one’s own position.
Lengthy Court Battle
How did this situation arise? When the first reports of layoffs in the development studio became known, Sharif still tried to calm the public down. Shortly thereafter, however, several stakeholders began clashing, currently fighting each other in various courts.
The owners of TFE Games Holding, Steven Sharif, and John Moore, among others, accuse him of fraud and misappropriation of millions in company funds. They also claim that Sharif is supposed to withhold important company data and passwords from Intrepid.
Accordingly, the MMORPG Ashes of Creation is in a bad state. If you have already purchased the title on Steam, you may be able to try for a refund. You can find instructions for that on MeinMMO: Bought Ashes of Creation? Here’s how to get the refund on Steam
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