The U.S. Department of Justice unsealed an indictment on August 5 against Taj Tarsha, founder of the NFT project Few and Far, accusing him of raising more than $10 million from 67 investors and then spending the money on gambling, cryptocurrency, and personal expenses. The charges follow a collapse in the project's FAR token, which has plunged more than 99% in value.
The allegations
Federal prosecutors say Tarsha solicited funds from dozens of investors for an NFT venture, then diverted the proceeds for his own use. The indictment does not specify which gambling platforms or crypto exchanges received the money, but the government alleges the spending was personal, not business-related.
The case is the latest in a string of crypto fraud prosecutions where founders are accused of treating investor funds like a personal checking account. Tarsha has not yet entered a plea, and the court docket does not list a defense attorney.
What happened to the FAR token
Few and Far's native token, FAR, has lost more than 99% of its value, wiping out retail holders who bought in after the project's initial hype. The token's collapse predates the indictment but accelerated in the weeks before the DOJ announcement.
Blockchain data shows large transfers out of project wallets around the time the alleged spending occurred, though the indictment does not name specific wallets or exchanges.
What this means for the project
Few and Far's website and social channels have gone quiet since the indictment. The project's community forum is filled with investors asking for refunds, but there is no indication any money will be returned.
The DOJ is seeking forfeiture of the funds, but that process can take months or years. For the 67 investors, the practical question is whether any of the $10 million can be recovered, and the answer is not clear from the indictment.
The case is assigned to a federal district court, and the next hearing is expected within 30 days. Tarsha remains free pending trial, according to court records.
