Few and Far Founder Indicted on Fraud Charges After Misusing $10 Million
Few and Far founder Taj Tarsha has been charged with securities fraud and wire fraud for allegedly raising over $10 million from investors to build a Web3 platform, then misusing the funds for online gambling, cryptocurrency trades, and personal expenses.
The U.S. Attorney's Office for the Southern District of New York indicted Tarsha, 34, on Wednesday, alleging he sold rights to 95 million FAR tokens through Simple Agreements for Future Tokens (SAFTs) to at least 67 investors in 2022.
Prosecutors claim that instead of using the money to build the marketplace, Tarsha diverted investor funds almost immediately for various personal expenses, including nearly $1 million in bonuses and an inflated salary.
The charges follow other federal cases targeting NFT fraud, with prosecutors highlighting the importance of protecting investors' rights and holding business leaders accountable for their actions.