U.S. Department of Justice Sues Few and Far Founder, Allegedly Defrauding NFT Investors and Misusing Funds for Personal Enjoyment

Odaily News – The U.S. Department of Justice (DOJ) announced that Taj Tarsha, founder of the NFT marketplace project Few and Far, has been formally charged with securities fraud and wire fraud. Prosecutors allege that he raised investment funds through false statements and diverted a portion of those funds for personal use, including gambling and lavish spending. According to the indictment, after an internal audit in 2023 flagged abnormal fund usage, Tarsha allegedly provided misleading explanations to investors, claiming the expenditures aligned with project development needs, while continuing to maintain the facade of ongoing operations. Subsequently, most Few and Far employees departed, and project development largely came to a halt.

Additionally, Tarsha is accused of deriving nearly $1 million in personal gains from company funds through undisclosed bonuses and inflated salary arrangements. Some of these bonuses were not disclosed to investors or the company's co-founders.

Prosecutors allege that Tarsha raised over $10 million from at least 67 investors by selling rights to approximately 95 million FAR tokens. However, after securing the funds, he allegedly failed to allocate them toward project development as promised, instead using investor money for online casino gambling, purchasing speculative crypto assets, paying down a Miami apartment mortgage, interior renovations, and personal DJ activities.

The DOJ stated that fundraising in the crypto startup space does not exempt projects from traditional financial regulations, and investors are entitled to truthful information regarding the use of funds. Tarsha was previously arrested on June 6, 2026, and the case will be heard by the U.S. District Court for the Southern District of New York.