DOJ charges Few and Far NFT startup founder in $10M case

Federal prosecutors in Manhattan charged Few and Far founder Taj Tarsha with securities fraud and wire fraud over an alleged scheme involving more than $10 million raised for a planned nonfungible token marketplace. Summary U.S. prosecutors charged Taj Tarsha with securities and wire fraud tied to Few and Far. Few and Far raised over $10 million from 67 investors through future token agreement sales. Prosecutors allege Tarsha spent investor funds on gambling, crypto trading, housing costs and personal hobbies. FAR allegedly fell over 99% after opening near $0.13 during its May 2024 token launch. Each criminal count carries a maximum sentence of 20 years though punishment remains judicially determined. The Southern District of New York announced the indictment on Aug. 5. Tarsha, 34, of Miami, was previously arrested on June 6, according to the DOJ. The case has been assigned to U.S. District Judge Lewis A. Kaplan. Tarsha remains presumed innocent unless proven guilty. Prosecutors allege Tarsha told investors their money would finance the Few and Far marketplace and its FAR token. Instead, the government claims he diverted company assets into online gambling, speculative crypto trade...