Taj Tarsha, the founder of NFT startup Few and Far, has been indicted on securities fraud and wire fraud charges. Federal prosecutors allege Tarsha misappropriated more than $10 million raised from investors for a decentralized marketplace. The case, assigned to U.S. District Judge Lewis A. Kaplan, carries a maximum sentence of 20 years per charge. Tarsha is presumed innocent unless convicted.
The indictment
Starting in February 2022, Tarsha raised funds through Simple Agreements for Future Tokens (SAFTs). He sold 95 million FAR tokens to at least 67 investors at roughly $0.11 per token. The money was supposed to build a decentralized marketplace. Instead, prosecutors say, Tarsha treated the funds like his personal bank account.
Where the money went
An audit in June 2023 uncovered the missing funds. Tarsha had paid himself nearly $1 million in hidden bonuses and drew what prosecutors called an 'unreasonable' salary — especially given the company had 'zero revenue.' The diverted cash went to online gambling, speculative crypto trades, a Miami condominium loan, interior design, and even Tarsha's DJ hobby. He misled investors by claiming the bonuses matched presale targets and that all remaining funds were needed for the project.
The worthless token
The FAR token finally launched in May 2024 — 27 months after the first investment. It was worthless from the start and ceased trading soon after. The Few and Far website remains online, still advertising FAR as live on mainnet. That's a detail that won't sit well with the 67 investors who lost their money.
Tarsha faces two felony counts. Each carries up to 20 years in prison. The case is in the Southern District of New York, with Judge Kaplan presiding. No trial date has been set yet. For now, the website stays up, and the investors are left holding nothing.
