Founder Taj Tarsha charged with $10 million fraud, alleged misuse of NFT funds
The Department of Justice has indicted Taj Tarsha, the creator of Few and Far, on securities and wire fraud counts for allegedly diverting more than $10 million of investor money into personal expenses.
Federal prosecutors allege that Taj Tarsha, who launched the crypto startup Few and Far in March 2022, orchestrated a scheme that collected upwards of $10 million from investors through the sale of FAR tokens. The indictment claims the funds were meant to build a decentralized NFT marketplace on the NEAR blockchain, yet the project never produced a working product. Tarsha is said to have taken a $360,000 annual salary, transferred hundreds of thousands of dollars to personal wallets for online gambling, and used company money to purchase a high-end Miami condominium, cover its interior design, and support a personal DJ venture.
He also allegedly paid a personal tax bill and took a near-$1 million loan from the company treasury. The FAR token finally debuted more than two years after the company’s founding, only to tumble over 99% in value. If convicted, Tarsha could face a lengthy prison term and be required to forfeit assets obtained with the alleged misappropriated funds.
Why it matters
The case highlights ongoing risks of fraud in the crypto and NFT sectors, underscoring the need for investor vigilance.
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