NFT firm founder indicted for using treasury to support ‘DJ hobby’
Taj Tarsha, the founder of Few and Far, which claimed to be building an NFT exchange, has been indicted in the Southern District of New York for securities fraud and wire fraud.
The allegations in the indictment detail how Tarsha, along with the Few and Far team, raised over $10 million from investors by selling the rights to their future FAR token.
Subsequently, Tarsha allegedly “misappropriated millions of dollars raised by the company, using investor funds to gamble at an online casino, speculatively trade cryptocurrency, fund unrelated business ventures, and serve as collateral to finance his purchase of a luxury condominium in Miami.”
Additionally, he used some of the funds to support his “DJ hobby.”
Read more: Justin Sun’s NFT marketplace managed just four sales last month
According to the indictment, Tarsha was cynical about the NFT ecosystem, describing it as:
- a “bubble”
- “the last [company] I have in me”
- “the last juice I have to squeeze”
- a “magic ticket to a 10-30M exit.”
Similarly, he also apparently told his then-fiancée that he’d taken assets from Few and Far, something he knew was “unethical.”
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