Federal prosecutors in Manhattan have charged Few and Far founder Taj Tarsha with securities fraud and wire fraud, accusing him of raising more than $10 million from investors and misusing the money instead of building the NFT marketplace tied to the project’s FAR token.

According to the indictment announced by the U.S. Attorney’s Office for the Southern District of New York, the alleged scheme began in February 2022. Prosecutors say Tarsha sold rights to future FAR tokens to at least 67 investors, then diverted funds to online gambling, speculative crypto trading, a Miami condominium loan, and other personal expenses.

How the fundraising allegedly worked

Prosecutors say Tarsha used Simple Agreements for Future Tokens, or SAFTs, to raise capital for Few and Far. Under those contracts, investors paid in advance for the right to receive FAR tokens once the company’s decentralized NFT marketplace was operational.

The indictment alleges that Tarsha sold 95 million FAR tokens through these arrangements and brought in more than $10 million. That money, prosecutors say, was supposed to support development of the marketplace and the token ecosystem, but was not used as represented to investors.

Alleged spending and concealed compensation

The government alleges that investor funds were spent at an online casino, deployed into risky cryptocurrency trades, and used to pay down a loan connected to a Miami condominium. Prosecutors also say company money went toward Tarsha’s DJ hobby and some interior design work.

In addition, Tarsha is accused of paying himself nearly $1 million through two bonuses that were allegedly hidden from investors and from one of his co-founders. Prosecutors say he also drew a salary that he privately acknowledged was unreasonable for a company with no finished product and, in his words, "zero revenue." The indictment further alleges that he admitted to his then-fiancée that taking company assets was "unethical."

What happened inside Few and Far

Few and Far was founded by Tarsha, Chris Gale, and Chris Hayes, and was built on NEAR Protocol. The company also raised about $10.5 million in a funding round led by Pantera Capital.

An internal audit in June 2023 reportedly found that some company funds were missing. Prosecutors say Tarsha responded by telling investors that the bonuses were linked to preset FAR presale targets and that the remaining funds were still required to complete the project.

By that point, according to prosecutors, he had already dismissed nearly all staff and left a single contractor producing work that only gave the appearance of development. After colleagues discovered the missing funds, Tarsha was removed from Few and Far’s multi-signature wallet, the indictment says.

Token launch, collapse, and court proceedings

FAR eventually went live in May 2024, but prosecutors say the token quickly became effectively worthless and stopped trading soon afterward. Inner City Press separately reported that the token fell by more than 99% from its launch price.

Tarsha, 34, was arrested on June 6, 2026. He was released four days later on a $500,000 personal recognizance bond. The case has been assigned to U.S. District Judge Lewis A. Kaplan.

The charges are allegations, and the case will now proceed in federal court in Manhattan. Each of the two counts listed in the indictment carries a maximum sentence of 20 years in prison.

Source: Cryptopolitan