Taj Tarsha, founder of Few and Far, faces fraud charges for misusing $10M raised from investors for personal gain.
Taj Tarsha, the founder of the NFT startup Few and Far, has been charged by federal authorities with securities and wire fraud related to a $10 million fundraising campaign.
Prosecutors allege that Tarsha diverted more than $10 million raised from at least 67 investors for personal expenses, including online gambling and cryptocurrency trading, instead of using the funds to develop the company’s NFT marketplace.
Beginning in February 2022, Tarsha raised these funds through Simple Agreements for Future Tokens (SAFTs), promising investors 95 million FAR tokens to facilitate the creation of a decentralized NFT marketplace. However, prosecutors claim that Tarsha began misappropriating the funds soon after the fundraising efforts concluded.
The alleged fraud came to light during an internal audit in June 2023. Prosecutors state that Tarsha deceived investors by claiming that bonuses he received were tied to token presale milestones and misrepresented that company funds were being used for project development.
In actuality, he had laid off most employees and instructed a contractor to create the illusion that the marketplace was operational. Furthermore, it is alleged that he used investor funds for personal loans, including one for a Miami condominium, as well as for decorating services and expenses related to his DJ activities.
Although Few and Far launched the FAR token in May 2024, it quickly became nearly worthless and stopped trading soon after. Tarsha was arrested on June 6, and the case is overseen by U.S. District Judge Lewis A. Kaplan. If convicted, each charge could lead to a maximum of 20 years in prison.
Efforts to contact Tarsha via email after business hours were unsuccessful at the time of publication.
