Taj Tarsha charged with securities and wire fraud for allegedly misusing $10M raised for Few and Far NFT marketplace. FAR token lost 99% after launch. Next court date not set.
Alpha Score of 42 reflects weak overall profile with weak momentum, poor value, weak quality, weak sentiment.
Federal prosecutors in Manhattan charged Few and Far founder Taj Tarsha with securities fraud and wire fraud over an alleged scheme that raised more than $10 million for a planned NFT marketplace. The Southern District of New York announced the indictment on Aug. 5. Tarsha, 34, of Miami, was arrested on June 6, according to the Justice Department. The case has been assigned to U.S. District Judge Lewis A. Kaplan. Tarsha remains presumed innocent unless proven guilty.
Prosecutors allege Tarsha told investors their money would build the Few and Far marketplace and its FAR token. The government claims he instead diverted company assets into online gambling, speculative crypto trades and personal expenses while the platform remained unfinished. The indictment details a structure that began in February 2022, when Few and Far sold rights to receive FAR tokens through Simple Agreements for Future Tokens (SAFTs). At least 67 investors paid more than $10 million for rights covering 95 million tokens, the indictment said.
The agreements stated management would use the proceeds to develop the token, build the marketplace and cover legitimate corporate expenses. They also described the offering as an investment that could constitute a security and limited U.S. participation to accredited investors under Regulation D, prosecutors said. That accredited investor restriction gives the case a direct U.S. securities angle. The government is not prosecuting Tarsha merely because Few and Far issued a crypto token. Its case centers on allegations that he made material promises about how investor money would be used and then acted differently.
The structure resembles other disputes involving promises tied to tokens that had not yet launched. The SEC accused Unicoin executives of misleading investors who purchased certificates connected to a planned token. That matter is a separate civil enforcement action. The Few and Far case is a criminal prosecution brought by the DOJ.
Prosecutors allege Tarsha controlled the digital wallet that collected the investors’ cryptocurrency. He began withdrawing funds for personal purposes shortly after the fundraising started, including online casino gambling and speculative token purchases, the indictment said. The government also claims Tarsha and a cofounder received $1.2 million in undisclosed bonuses despite the company having little operating progress. The cofounder returned $600,000 after a June 2023 audit uncovered the payments, while Tarsha refused to return his portion, prosecutors said.
Tarsha allegedly acknowledged that Few and Far had “zero revenue” while privately discussing a higher salary and bonuses. That statement appears in the indictment and remains a government allegation not tested at trial. After the audit, company personnel removed Tarsha from a wallet that required approval from multiple signatories. Prosecutors claim he then dismissed two people who controlled the wallet and threatened legal action unless the remaining assets were transferred to an account under his control.
Few and Far launched FAR in May 2024 on a single exchange not legally available to U.S. investors, the indictment said. The token opened near $0.13 before losing more than 99% of its value by mid-2025. The exchange later moved to delist it, according to prosecutors. The government alleges Tarsha treated the launch as a legal formality rather than a genuine business milestone. In one alleged conversation, he called the situation “just playing a game” with investors. When an engineer suggested FAR might appreciate, Tarsha allegedly responded, “that would be hilarious.” These statements are disputed allegations drawn from the indictment.
Prosecutors said Few and Far never generated material revenue or completed the fully functioning marketplace promoted to investors. They also allege Tarsha used remaining funds to support unrelated ventures, pay interior design bills and provide collateral for a nearly $1 million loan connected to a Miami condominium.
Tarsha faces one count of securities fraud and one count of wire fraud. Each carries a statutory maximum sentence of 20 years. The charges do not mean he would automatically receive consecutive 20-year terms if convicted. Any punishment would be decided by the court using federal law and the facts established in the case.
The prosecution is handled by the Southern District of New York’s Securities and Commodities Fraud Task Force, with the FBI credited for the investigation. The public announcement did not provide a trial date, plea information or a schedule for the next hearing. Investors will also watch for any forfeiture proceedings, restitution requests or separate civil claims, but none of those outcomes should be assumed before additional court filings appear.
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