The U.S. Attorney’s Office for the Southern District of New York indicted Taj Tarsha, founder of NFT startup Few and Far, in August on charges including securities fraud and wire fraud. The indictment alleges that Tarsha raised more than $10 million from at least 67 investors through the sale of Simple Agreements for Future Tokens (SAFTs) and misappropriated the funds for personal use.
Indictment Alleges Funds Were Misappropriated for Online Casinos, Crypto Speculation, and a Miami Home Purchase
According to the indictment, Tarsha misappropriated the more than $10 million raised from at least 67 investors for the following purposes instead of building the promised NFT marketplace:
· Online casinos (with substantial funds used for online gambling)
· High-risk cryptocurrency speculation
· Loans for a Miami apartment (used to repay related loans)
· His DJ hobby (funding personal DJ activities)
· Interior design expenses
· Undisclosed personal bonuses (two bonuses Tarsha concealed from investors and a co-founder, totaling nearly $1 million)
· An unreasonable salary (Tarsha reportedly privately acknowledged that his salary was unreasonable because the company had “zero revenue” and no product)
FAR Token Crashed After Launching in May 2024, Then Trading Was Halted
The FAR token ultimately launched in May 2024 but crashed immediately; prosecutors said it was effectively worthless, and trading was halted shortly afterward. According to Inner City Press, the token’s price fell more than 99% from its issue price.
In June 2023, an internal audit discovered that some funds were missing. Tarsha allegedly assured investors that the bonuses were tied to predetermined FAR presale targets and that the remaining funds were still necessary to complete the project. However, by that point, he had fired nearly all employees, leaving only one contractor to maintain the appearance of ongoing development. After colleagues discovered the missing funds, they removed Tarsha from Few and Far’s multisignature wallet.
Case Progress: Arrested on June 6, Each Charge Carries a Maximum Sentence of 20 Years
Tarsha was initially arrested on June 6, 2026, and released four days later on a $500k personal recognizance bond. The case is being heard by U.S. District Judge Lewis A. Kaplan, and each charge carries a maximum sentence of 20 years in prison.
Tarsha is currently presumed innocent. The indictment also states that Tarsha reportedly admitted to his then-fiancée that misappropriating company assets was “unethical.” He also privately acknowledged that his salary was unreasonable because the company had “zero revenue.”
FAQ
What charges does Taj Tarsha face?
According to the indictment from the U.S. Attorney’s Office for the Southern District of New York, Taj Tarsha faces two charges: securities fraud and wire fraud. Each charge carries a maximum sentence of 20 years in prison. Tarsha is currently presumed innocent.
How were Few and Far’s investors allegedly defrauded?
According to the indictment, Tarsha sold SAFTs (Simple Agreements for Future Tokens) to at least 67 investors, raising more than $10 million that was intended to build a decentralized NFT marketplace. The funds were allegedly used for personal purposes, including online gambling, high-risk cryptocurrency speculation, and purchasing a home in Miami.
What was the ultimate fate of the FAR token?
According to reports, the FAR token crashed immediately after launching in May 2024, falling more than 99% according to Inner City Press, and trading was halted shortly afterward. Prosecutors said it was effectively worthless.
