Odaily Planet Daily reports: The U.S. Department of Justice (DOJ) has announced that Taj Tarsha, founder of the NFT marketplace project Few and Far, has been formally charged with securities fraud and wire fraud. Prosecutors allege that he raised investment funds through false representations and diverted part of the funds for personal use, including gambling and luxury spending. Court documents show that after a company audit in 2023 uncovered irregularities in fund usage, Tarsha allegedly provided misleading explanations to investors, claiming the expenditures were aligned with project development needs and continued to maintain the illusion of ongoing operations. Subsequently, most of Few and Far’s employees left, and project development effectively stalled.
In addition, Tarsha was accused of personally benefiting from nearly $1 million in company funds through undisclosed bonuses and high-salary arrangements, some of which were not disclosed to investors or the company’s co-founders.
The prosecution alleges that Tarsha raised over $10 million from at least 67 investors by selling approximately 95 million FAR token rights. However, after securing the funds, she allegedly failed to use the money as promised for project development, instead diverting investor funds to online casinos, speculative cryptocurrency purchases, payments toward a Miami apartment mortgage, interior renovations, and personal DJ activities.
The U.S. Department of Justice stated that fundraising for cryptocurrency startups does not exempt them from traditional financial regulations, and investors are entitled to accurate information about how funds are used. Tarsha was previously arrested on June 6, 2026, and the case will be heard by the U.S. District Court for the Southern District of New York.