NFT Founder Charged With Fraud Over $10 Million Investor Funds

Federal prosecutors in Manhattan have charged Taj Tarsha, founder of NFT startup Few and Far, with securities fraud and wire fraud. Authorities allege the 34-year-old diverted more than $10 million raised from at least 67 investors since February 2022 into online gambling, crypto speculation and personal expenses instead of building the company’s planned marketplace, according to the U.S. Attorney’s Office for the Southern District of New York.

Investors Backed Project Through Token Agreements

Investors funded the project through Simple Agreements for Future Tokens, expecting rights to 95 million FAR tokens tied to a decentralized NFT marketplace. Prosecutors say Tarsha began misusing funds almost immediately, falsely claiming his bonuses were linked to presale milestones while quietly dismissing most employees and directing a contractor to make the marketplace appear functional.

Spending Included Miami Condo And DJ Expenses

The indictment alleges investor money covered a Miami condominium loan, interior design work and costs tied to Tarsha’s DJ hobby. The FAR token launched in May 2024 but quickly became worthless and stopped trading. Tarsha was arrested June 6, with the case assigned to U.S. District Judge Lewis A. Kaplan. Each charge carries up to 20 years in prison.