- Federal prosecutors in New York have indicted Few and Far founder Taj Tarsha on securities and wire fraud charges.
- They allege that he raised over $10 million from at least 67 investors for an NFT marketplace and spent the money on gambling, crypto trades, and personal expenses.
- Tarsha is currently out on a $500,000 bond, presumed innocent, and faces up to 20 years on each charge.
Federal prosecutors in Manhattan have charged Taj Tarsha, the founder of NFT startup Few and Far, with securities and wire fraud.
The authorities allege that he took more than $10 million from investors and spent it on gambling, speculative crypto bets, and a Miami condominium instead of the marketplace he promised to build.
What happened to Few and Far’s NFT marketplace?
The U.S. Attorney’s Office for the Southern District of New York announced an indictment today regarding an alleged scheme that dates back to February 2022.
Prosecutors claim that Taj Tarsha, the founder of the NFT startup Few and Far, began selling Simple Agreements for Future Tokens, or SAFTs. Under these contracts, buyers paid up front for the right to receive FAR tokens once Few and Far’s decentralized NFT marketplace was ready.
Prosecutors say Tarsha sold 95 million FAR tokens to at least 67 investors and raised over $10 million that was supposed to be put toward funding the platform and the token.
Instead, the funds were spent in an online casino, invested in risky cryptocurrency trades, and even used to pay off a loan tied to a Miami condominium. Tarsha also funded his DJ hobby with the money and paid for some interior design work.
Tarsha also paid himself close to $1 million through two bonuses he hid from investors and from one of his co-founders, plus a salary that he privately conceded was unreasonable given that the company had no product and, in his own words, “zero revenue.”
He also reportedly admitted to his then-fiancée that taking company assets was “unethical.”
Few and Far itself raised around $10.5 million in a funding round led by Pantera Capital. The company was founded a year earlier by Tarsha, Chris Gale, and Chris Hayes and built on NEAR Protocol.
How was Tarsha caught?
An internal audit in June 2023 revealed that some of the money was missing, but Tarsha allegedly reassured investors by telling them the bonuses were tied to preset FAR presale targets and that every remaining dollar was still needed to finish the project.
However, at that time, he had already dismissed nearly all staff and left a single contractor to produce work that only looked like development.
Once the missing funds were discovered by Tarsha’s colleagues, he was removed from Few and Far’s multi-signature wallet.
When the FAR token finally went live in May 2024, it collapsed. Prosecutors say it was effectively worthless and stopped trading soon after, and Inner City Press reported the token fell more than 99% from its launch price.
34-year-old Tarsha was initially arrested on June 6, 2026, before being released on a $500,000 personal recognizance bond four days later. The case is assigned to U.S. District Judge Lewis A. Kaplan, and each charge leveled against Tarsha carries a maximum of 20 years in prison.
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FAQs
Who is Taj Tarsha?
Taj Tarsha, 34, of Miami, is the founder and former sole equity owner of Few and Far Limited, a British Virgin Islands company that claimed to be building a decentralized NFT marketplace on NEAR Protocol.
How much money is involved and how many investors?
Prosecutors say Tarsha raised more than $10 million by selling 95 million FAR tokens to at least 67 investors through Simple Agreements for Future Tokens beginning in February 2022.
What charges does he face and what is the possible penalty?
Tarsha is charged with securities fraud and wire fraud in the Southern District of New York, each carrying a statutory maximum of 20 years in prison, and he is presumed innocent unless convicted.
Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Hannah Collymore
Hannah is a writer and editor with nearly a decade of blog writing and event reporting experience in the crypto space. At Cryptopolitan, Hannah contributes to the news page, reporting and analyzing the latest developments in DeFi, RWA, crypto regulation, AI and frontier tech industries. She graduated from Arcadia university with a degree in Business Administration.
