Federal prosecutors in Manhattan have charged Taju Tarsha, founder of the $NFT startup Few and Far, with securities fraud and wire fraud.
Authorities allege he misappropriated over $10 million from investors, spending it on gambling, speculative cryptocurrency bets, and a Miami apartment instead of the promised marketplace.
What Happened to the $NFT Marketplace Few and Far?
The U.S. Attorney's Office for the Southern District of New York announced the charges related to an alleged fraud scheme dating back to February 2022.
Prosecutors claim that Taju Tarsha, founder of the $NFT startup Few and Far, began selling Simple Agreements for Future Tokens (SAFTs). Under these contracts, buyers paid upfront for the right to receive FAR tokens once the decentralized $NFT marketplace Few and Far was ready.
According to prosecutors, Tarsha sold 95 million FAR tokens to at least 67 investors, raising over $10 million that was supposed to fund the platform and tokens.
Instead, the funds were spent in online casinos, invested in risky cryptocurrency trades, and even used to pay down a loan related to a Miami apartment. Tarsha also funded his hobby of DJing and paid for some interior design work.
Tarsha also paid himself about $1 million in two bonuses, which he concealed from investors and one of his co-founders, as well as a salary that he allegedly admitted was unjustified given the company had no product and, by his own admission, "zero revenue."
He reportedly also confessed to his then-fiancée that misappropriating company assets was "unethical."
Few and Far had raised about $10.5 million in a funding round led by Pantera Capital. The company was founded a year earlier by Tarsha, Chris Gale, and Chris Hayes and was built on the NEAR protocol.
How Was Tarsha Caught?
An internal review in June 2023 revealed a shortfall in some funds, but Tarsha allegedly reassured investors, claiming the bonuses were tied to pre-set pre-sale targets for FAR and that every remaining dollar was still needed to complete the project.
However, by that time, he had already laid off nearly all staff, leaving only one contract worker performing work that only superficially resembled project development.
After Tarsha's colleagues discovered the missing funds, he was removed from the Few and Far multi-signature wallet.
When the FAR token finally launched in May 2024, it crashed. According to prosecutors, it became essentially worthless and stopped trading shortly after, with Inner City Press reporting that the token's price fell over 99% from its launch price.
The 34-year-old Tarsha was initially arrested on June 6, 2026, and released four days later on a $500,000 bail. The case is before U.S. District Judge Lewis A. Kaplan, and each charge against Tarsha carries a maximum sentence of 20 years in prison.
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