Prosecutors allege Taj Tarsha misused investor funds on gambling, crypto trades, and personal expenses after raising $10 million.
Federal prosecutors charged Taj Tarsha, founder of NFT marketplace Few and Far, with securities and wire fraud. The indictment alleges he raised over $10 million from investors but spent funds on online gambling, speculative crypto trades, and a DJ hobby instead of platform development.
Tarsha allegedly raised capital in 2022 through Simple Agreements for Future Tokens (SAFTs), which allow upfront payments for later token delivery. The U.S. Attorney’s Office for the Southern District of New York filed charges, citing misuse of investor funds as fraudulent conduct.
If convicted, Tarsha faces up to 20 years in prison for each count. The FBI emphasized its commitment to investigating financial offenses to protect market integrity.