Extortion charges against Steven Nerayoff, an early adviser to the Ethereum network, have been dropped and the case against him dismissed, ending a case that featured explosive allegations against the FBI. cheyenneligon reports
Criminal extortion charges against Steven Nerayoff, an early adviser to the Ethereum network, were dismissed by a New York judge on May 5, ending a three-and-a-half year legal battle that included explosive allegations he made against U.S. investigators.
Nerayoff, however, has maintained his innocence from the beginning. In their motion to dismiss filed in February, Nerayoff’s lawyers said their client was the victim of an elaborate setup by the Federal Bureau of Investigation , which they say knowingly pursued false charges against Nerayoff in order to get him to turn over incriminating evidence on his contacts in the crypto industry.
The credibility of Nerayoff’s story isn’t helped by his own reputation for stretching the truth: In the past, he has styled himself, which has been labeled an exaggeration by other early Ethereum contributors. Anthony Sabino, a professor of law at St. John’s University, told CoinDesk that it’s uncommon for prosecutors to drop a case after obtaining an indictment.
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