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.
- 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 trades and personal expenses while the promised platform remained unfinished.
Future token agreements raised more than $10 million
Beginning in February 2022, Few and Far sold rights to receive FAR tokens through Simple Agreements for Future Tokens, commonly called SAFTs. At least 67 investors paid more than $10 million for rights covering 95 million tokens, according to the federal indictment.
The agreements said management would use the proceeds to develop the token, build the marketplace and cover legitimate corporate expenses. They also described the offering as an investment that could constitute a security and limited U.S. participation to accredited investors under Regulation D, prosecutors said.
The accredited investor restriction gives the case a direct U.S. securities angle. The government is not prosecuting Tarsha merely because Few and Far issued a crypto token. Its case centers on allegations that he made material promises to investors about how their money would be used and then knowingly acted differently.
The structure resembles other disputes involving promises tied to tokens that had not yet launched. As previously reported in related future token enforcement coverage, the SEC accused Unicoin executives of misleading investors who purchased certificates connected to a planned token. The Few and Far matter is a separate criminal prosecution brought by the Justice Department.
Audit allegedly uncovered gambling and hidden bonuses
Prosecutors allege Tarsha controlled the digital wallet used to collect the investors’ cryptocurrency. He allegedly began withdrawing funds for personal purposes shortly after the fundraising started, including online casino gambling and speculative token purchases.
The indictment also claims Tarsha and another cofounder received $1.2 million in undisclosed bonuses despite the company having little operating progress. Prosecutors said the other cofounder returned $600,000 after a June 2023 audit uncovered the payments, while Tarsha refused to return his portion.
Tarsha allegedly acknowledged that Few and Far had “zero revenue” while privately discussing a higher salary and bonuses. This statement appears in the indictment and represents a government allegation that has not been tested at trial.
After the audit, company personnel removed Tarsha from a wallet that required approval from multiple signatories. Prosecutors claim he then dismissed two people who controlled the wallet and threatened legal action unless the remaining assets were transferred to an account under his control.
The allegations echo an earlier U.S. case involving an NFT business. In earlier Blockparty fraud coverage, prosecutors accused a cofounder of diverting company money to support personal spending. That matter involved different defendants and transactions, but both cases focus on the alleged conversion of startup funds.
FAR token allegedly lost more than 99%
Few and Far launched FAR in May 2024 on a single exchange that was not legally available to U.S. investors, the indictment said. The token opened near $0.13 before losing more than 99% of its value by the middle of 2025. The exchange later moved to delist it, according to prosecutors.
The government alleges Tarsha treated the launch as a legal formality rather than a genuine business milestone. In one alleged conversation, he called the situation “just playing a game” with investors. When an engineer suggested FAR might appreciate, Tarsha allegedly responded, “that would be hilarious.” These statements remain disputed allegations drawn from the indictment.
Prosecutors said Few and Far never generated material revenue or completed the fully functioning marketplace promoted to investors. They also allege Tarsha used remaining funds to support unrelated ventures, pay interior design bills and provide collateral for a nearly $1 million loan connected to a Miami condominium.
What happens next in the U.S. case
Tarsha faces one count of securities fraud and one count of wire fraud. Each carries a statutory maximum sentence of 20 years, although the charges do not mean he would automatically receive consecutive 20 year terms if convicted. Any punishment would be decided by the court using federal law and the facts established in the case.
The prosecution is being handled by the Southern District of New York’s Securities and Commodities Fraud Task Force, with the FBI credited for the investigation. The public announcement did not provide a trial date, plea information or a schedule for the next hearing.
The government must prove its allegations beyond a reasonable doubt. Investors will also watch for any forfeiture proceedings, restitution requests or separate civil claims, but none of those outcomes should be assumed before additional court filings appear.
