On Tuesday, Steven Nerayoff, a previous advisor for Ethereum, filed a claim against the U.S. administration for $9.6 billion in compensation under the Federal Tort Claims Act (FTCA). He accused the government of wrongful prosecution and other severe charges that transpired from 2019 to 2023.
Ethereum Insider Vs. The US Govt
Nerayoff recently announced on X, formerly known as Twitter, that he has filed a Federal Tort Claims Act (FTCA) lawsuit against the US government. In his post, he passionately declared, “Today I’ve taken legal action against the US government for personal damages due to wrongful prosecution. It’s past time for us to fight back against this rampant corruption. This is for those unjustly accused and to seek justice for all involved.”
Eleanor Terrett of Fox Business, along with her team and lawyer Michael Scotto, were acknowledged by him for bringing attention to the lawsuit through their efforts. Terrett specifically detailed on X the legal action taken against the US government for $9.6 billion in damages due to false accusations and mistreatment inflicted by federal agents from 2019 to 2023. The former Ethereum advisor and his legal team have initiated an FTCA lawsuit.
The lawsuit claims that some federal agents knew the accusations against Nerayoff were baseless and resorted to harassment, intimidation, and producing false evidence to bring extortion charges against him under the Hobbs Act. Even after the May 2023 dismissal of the federal indictment against Nerayoff with no possibility of reopening the case, the papers request significant compensation due to the harm inflicted on Nerayoff’s reputation and businesses.
Having renowned attorney Alan Dershowitz and ex-Manhattan Assistant District Attorney Michael Scotto on board significantly strengthens the case for Mr. Nerayoff. Dershowitz emphasized the uniqueness of Nerayoff’s circumstances, stating, “As a strong opponent of prosecutors singling out individuals, I agreed to support Mr. Nerayoff in a constitutional capacity.”
In simpler terms, the extensive court papers tell a chilling story of suspected misuse of authority by federal agents and officials. This includes instances of physical violence, incorrect arrests, illegal detentions, and malicious prosecutions. Of particular interest is a remark from an Assistant US Attorney (AUSA), suggesting that the government was prepared to conceal unlawful, careless, or unconstitutional actions in the crypto sector to preserve the appearance of valid law enforcement.
According to Nerayoff and his lawyers, the federal government was prepared to overlook potential unlawful conduct by its agents in the crypto sphere, for the sake of preserving the public perception that the DOJ and SEC were effectively enforcing the law in a knowledgeable and proper manner.
In addition, the lawsuit claims that federal prosecutors, agents, and officers put their own professional advancement above justice for Nerayoff, jeopardizing his constitutional rights and livelihood. The lawsuit asserts that this sacrifice was deemed acceptable by those involved in pursuit of their reputations and careers within the cryptocurrency industry and lucrative private sectors.
This lawsuit implies a deeper problem in the Federal Law Enforcement’s management of cryptocurrency investigations, as Nerayoff’s experience may mark a turning point for others in the industry. The complaint states that federal prosecutors, agents, and officers disregarded Nerayoff’s constitutional rights and ruined his life while enforcing the law under its authority.
At press time, the Ethereum price stood at $3,534.
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2024-04-10 08:56