US Indicts Crypto Founder Taj Tarsha Over $10 Million Few and Far Token Scheme

Federal prosecutors have indicted Taj Tarsha, founder of crypto startup Few and Far, charging him with wire fraud and securities fraud over an alleged $10 million scheme that diverted investor funds into luxury real estate, online gambling, and a personal music career.

The indictment, unsealed Wednesday by the Department of Justice, targets fundraising activities conducted during the height of the digital asset boom. U.S. authorities allege that Tarsha solicited millions of dollars from investors to construct a non-fungible token marketplace on the NEAR blockchain, but instead redirected the proceeds for personal enrichment while failing to produce a functional commercial product.

According to court filings, Tarsha began pitching investors in early 2022, selling 95 million proprietary FAR tokens to at least 67 buyers through forward-looking investment contracts. Prospective buyers were promised annual percentage returns of up to 427% by staking the assets or trading them on secondary crypto exchanges. Although Few and Far had two other cofounders, Tarsha retained complete corporate control by holding all company equity through a Panamanian entity.

Even prior to launching the venture in March 2022, Tarsha described the broader NFT market as a “bubble”, while still pointing to its profit potential. Prosecutors allege that shortly after incorporating the startup, Tarsha privately referred to Few and Far as “the last [company] I have in me”, “the last juice I have to squeeze”, and a “magic ticket to a 10-30M exit” within 18 months.

Instead of deploying the $10 million raised toward platform engineering, prosecutors say Tarsha established a $360,000 annual salary for himself, which he refused to reduce even while admitting the project generated “virtually zero revenue”. Court records allege he siphoned corporate treasury funds to finance online casino gambling, cover personal tax liabilities, fund interior design services, pay himself $600,000 in bonuses, and finance a personal DJ hobby. He also allegedly took nearly $1 million in company loans to acquire a luxury condominium in Miami.

The criminal charges come amid a broader push by federal enforcement agencies to prosecute conduct from the 2021-2022 crypto expansion. During that period, institutional and retail interest fueled multi-billion-dollar market valuations for digital collectibles, attracting major brands such as Nike and Coca-Cola alongside high-profile figures like Snoop Dogg and Justin Bieber. The market subsequently experienced a sharp downturn, with global NFT trading volumes plummeting roughly 95% from their early-2022 peak by the end of that year.

The FAR token did not launch until more than two years after Few and Far was established. Following its eventual debut, the token lost over 99% of its value and currently trades at near-zero levels. If convicted of the securities fraud and wire fraud counts, Tarsha faces potential imprisonment and mandatory forfeiture of assets acquired with the illicit proceeds.