Taj Tarsha, founder of Few and Far, sold 95 million FAR tokens and raised $10 million, then spent it on gambling, a condo loan, and his DJ hobby. He faces 20 years per count.
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The founder of a non-fungible token marketplace was charged with securities and wire fraud after prosecutors said he raised $10 million from investors and spent the money on gambling, a Miami condo loan, and his DJ hobby.
Taj Tarsha, the founder and sole equity owner of Few and War, sold 95 million FAR tokens to 67 investors starting in May 2024, according to the U.S. Attorney's Office for the Southern District of New York. He told them the funds would go toward developing the NFT marketplace and the FAR token.
Instead, prosecutors allege, he used the money for personal expenses: interior design, online gambling, and speculative crypto assets. He also drained $1 million of investor funds to pay himself two bonuses while keeping a high salary.
The FAR token debuted in May 2024 but quickly lost all value and stopped trading. Investors got nothing back.
Deputy U.S. Attorney Sean S. Buckley said in a statement that Tarsha “breached their trust by stealing those funds for his own personal benefit.” He added that “investors are entitled to the truth when choosing to make an investment.”
If convicted, Tarsha faces up to 20 years in prison on each count. The charges are the latest in a string of crypto fraud cases brought by the same federal office against founders who misrepresented how they would use token proceeds.
For investors, the case underscores the risk of buying tokens from projects with no verified product or transparent financial disclosures. The Securities and Exchange Commission has not filed a separate civil action, but the criminal charges signal that the Department of Justice is treating token sales as securities offerings when founders make explicit promises about how the money will be used.
The case is set to proceed in federal court in Manhattan. No trial date has been scheduled.
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