Taj Tarsha, founder of NFT startup Few and Far, was indicted on securities and wire fraud charges after federal prosecutors in New York uncovered a $10 million scheme involving at least 67 investors. The money meant for building a decentralized NFT marketplace ended up in online casinos, risky crypto trades, and a Miami condo instead.
The indictment traces back to February 2022, when Tarsha started selling SAFTs, or Simple Agreements for Future Tokens. Investors paid upfront for the right to receive FAR tokens once the platform launched. He sold 95 million tokens across the investor base, promising to channel funds into development. None of that happened. Court documents show he siphoned cash to fund his DJ hobby, cover interior design expenses, and clear debts on personal property. Tarsha also awarded himself nearly $1 million in hidden bonuses and salary, keeping the payments from investors and his own co-founders.
Currently out on a $500,000 bond, Tarsha faces up to 20 years in prison on each charge. The case shows persistent risks in the NFT space, where regulatory oversight remains fragmented and investor protection mechanisms lag far behind traditional finance. The arrest adds to a growing list of crypto founders caught misusing capital raised through token sales, a pattern that continues to erode confidence in early-stage blockchain projects.
