US Crypto Startup Founder Charged with Defrauding Investors

Taj Tarsha, the founder of Few and Far Ltd., a US-based crypto startup, has been charged with securities and wire fraud by a federal grand jury in New York. The indictment alleges that Tarsha defrauded investors out of millions of dollars.

The alleged scheme began in early 2022 when Tarsha started soliciting investments through the pre-sale of crypto tokens for his planned NFT market, raising at least $10 million. However, it's claimed that he misappropriated investor funds for personal use, including online gambling and crypto trading, while also paying out $1 million in undisclosed compensation.

The indictment states that when the token was finally launched in May 2024, 'it was effectively worthless and soon ceased trading.'