Federal prosecutors have charged Taj Tarsha, founder of the NFT marketplace Few and Far, with securities fraud and wire fraud, alleging he misappropriated more than $10 million raised from investors to fund online gambling, speculative cryptocy trading, luxury personal expenses, and even his aspiring DJ career. The indictment, filed by the U.S. Attorney’s Office for the Southern District of New York, accuses Tarsha of misleading investors who believed their money would be used to build a decentralized NFT marketplace and expand the company’s Web3 ecosystem. If convicted, he faces up to 20 years in prison on each charge.
According to prosecutors, the alleged fraud took place after Few and Far successfully raised capital through private token sales tied to its FAR token. Rather than using those funds for platform development, authorities claim Tarsha diverted millions of dollars into personal accounts, financing high-risk gambling, leveraged crypto trades, a loan on a luxury condominium in Miami, and expenses related to his DJ hobby. Tarsha has denied the allegations and says he intends to fight the charges, arguing that Few and Far was a legitimate Web3 startup that was ultimately hurt by the collapse of the NFT market.
Federal investigators claim Tarsha raised more than $10 million from approximately 70 investors through agreements to purchase future FAR tokens.
Instead of using the capital to build and expand the NFT marketplace, prosecutors allege the funds were diverted toward:
Authorities argue investors were never informed that their capital was being used for personal purposes rather than business operations.
Few and Far launched as a decentralized NFT marketplace focused on the NEAR Protocol, positioning itself as an alternative to larger NFT trading platforms.
The project attracted attention during the NFT boom and received support from the NEAR Foundation, which announced grant funding and a strategic partnership in 2022. Prosecutors allege that despite presenting itself as a growing Web3 company, the startup failed to use investor capital as promised.
Tarsha has strongly rejected the government’s claims.
Through his attorneys, he stated that Few and Far built a legitimate NFT marketplace, successfully launched its token, and later encountered the same market downturn that affected much of the NFT industry. His legal team argues that the criminal charges unfairly portray the collapse of a real startup as intentional fraud.
The indictment reflects the Justice Department’s continued focus on alleged misconduct involving cryptocy fundraising.
Federal investigators are increasingly scrutinizing:
Officials say crypto entrepreneurs remain subject to the same fraud laws that govern traditional financial markets, regardless of whether funds are raised through blockchain-based assets or conventional securities.
The case comes as the NFT sector continues rebuilding after its dramatic decline from the highs of 2021 and 2022.
While trading activity has stabilized around utility-driven collections, gaming assets, and tokenized intellectual property, regulators remain focused on protecting investors from projects that allegedly misrepresent how raised capital is used. High-profile enforcement actions continue to shape public perception of the broader Web3 ecosystem.
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