Intrepid CEO Disputes Allegations of Lavish Spending on Ashes of Creation

Leaked financial records allege millions spent on personal expenses, but Intrepid disputes claims

Apr. 13, 2026 at 10:25am

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A highly detailed, 3D macro illustration of a tangled network of neon-lit financial data cables and circuits, representing the complex financial records and allegations surrounding the Ashes of Creation project.The complex financial web behind the troubled development of Ashes of Creation is illuminated in a glowing, high-tech visualization.San Diego Today

The public fallout of the ill-fated MMO Ashes of Creation continues, with leaked financial records allegedly revealing a "troubling picture" of Intrepid Studios' spending, including millions on personal expenses like Magic: The Gathering cards, a personal chef, and more. However, Intrepid CEO Steven Sharif has disputed the claims, calling them "false and defamatory" and alleging an "unlawful foreclosure" attempt by the parties behind the leaks.

Why it matters

The Ashes of Creation saga has been closely watched by the gaming community, with the game's troubled development and ultimate failure raising questions about the management and finances of Intrepid Studios. These new allegations, if true, could further damage the company's reputation and raise concerns about transparency and accountability in the game development industry.

The details

According to YouTuber NefasQS, who claims to have obtained Intrepid Studios' financial records, the company allegedly spent large sums on personal expenses, including $220,066.46 on DoorDash, $48,568 on antiques, $21,000 for a personal chef, $8,717.15 on plants, $15,981.70 on movie theater tickets, $595,098.83 on Amazon orders, $21,346 on Magic: The Gathering cards, and $2,200 on hot dogs. The records also allegedly show that Intrepid CEO Steven Sharif and his husband, John Moore, saw their compensation nearly double in 2024.

  • In February 2026, Valve quietly withdrew Ashes of Creation from sale after its director and leadership team quit just weeks after it launched as a $50 Early Access game on Steam.
  • On January 31, 2026, Intrepid Studios issued a WARN Act notification, indicating that 210 employees were "affected" by the filing, 123 of whom worked in California.
  • Last month, Sharif said he had won the first leg of his legal battle against Intrepid's Board of Directors, claiming "breaches of fiduciary duty, violations of federal and state trade secret laws, and wrongful efforts to seize company assets, including its valuable IP, through an unlawful and manufactured insider foreclosure."

The players

Steven Sharif

The former CEO of Intrepid Studios, the developer of the ill-fated MMO Ashes of Creation. Sharif has disputed the claims made in the leaked financial records, calling them "false and defamatory" and alleging an "unlawful foreclosure" attempt by the parties behind the leaks.

John Moore

The husband of former Intrepid CEO Steven Sharif. The leaked financial records allegedly show that Moore received large sums of money from the company, including "shareholder loans".

Rob Dawson

The Chair of Intrepid's Board of Directors, who Sharif has accused of being involved in the "unlawful and manufactured insider foreclosure" attempt.

TFE Games Holdings LLC

An entity affiliated with Intrepid's Board of Directors, which Sharif has accused of being involved in the "unlawful and manufactured insider foreclosure" attempt.

NefasQS

A YouTuber who claims to have obtained and processed Intrepid Studios' financial records, and has published a video discussing the alleged details.

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What they’re saying

“An examination of the facts through the judicial process has already revealed that the parties behind these claims orchestrated an unlawful foreclosure to take control of Intrepid's assets from the people who built Ashes of Creation, with the intent to exploit those assets for their own benefit.”

— Steven Sharif, CEO, Intrepid Studios

“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. 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.”

— Steven Sharif, CEO, Intrepid Studios

What’s next

The legal battle between Sharif and Intrepid's Board of Directors is ongoing, with the San Diego court having issued a temporary restraining order in Sharif's favor. The veracity of the leaked financial records and the claims made by NefasQS will likely be further scrutinized as the legal proceedings continue.

The takeaway

The Ashes of Creation saga has been marked by controversy and allegations of mismanagement, and these latest claims of lavish spending by Intrepid Studios' leadership only add to the growing concerns about transparency and accountability in the game development industry. The outcome of the legal battle will be closely watched, as it could have significant implications for the future of the Ashes of Creation project and the reputation of those involved.