The founder of NFT marketplace Few and Far raised $10 million from investors for a Web3 platform. Now prosecutors say that money didn't go toward building the promised technology — it went to gambling, trading, and a personal DJ hobby.
The Allegations
According to prosecutors, the founder collected the funds from investors who believed they were backing a decentralized platform. Instead, the money was allegedly diverted to cover personal expenses. The charges detail spending on online gambling, speculative trading, and equipment for a side career as a DJ.
What the Money Was For
Investors were told their capital would be used to develop a Web3 marketplace for non-fungible tokens. The pitch centered on building a platform that would let users buy, sell, and trade digital art and collectibles. But prosecutors allege the founder used the funds for entirely unrelated personal activities.
What Happens Next
The case is now in the hands of the court. Prosecutors have laid out their allegations, and the founder will have to respond. No trial date has been set yet. Investors who put money into the project are left waiting to see if any of the funds can be recovered.
