Few and Far NFT project founder to face US court over $10M fraud allegations

Federal prosecutors in Manhattan have charged Taj Tarsha, the founder of NFT startup Few and Far, with securities and wire fraud.

The authorities allege that he took more than $10 million from investors and spent it on gambling, speculative crypto bets, and a Miami condominium instead of the marketplace he promised to build.

What happened to Few and Far’s NFT marketplace?

The U.S. Attorney’s Office for the Southern District of New York announced an indictment today regarding an alleged scheme that dates back to February 2022. 

Prosecutors claim that Taj Tarsha, the founder of the NFT startup Few and Far, began selling Simple Agreements for Future Tokens, or SAFTs. Under these contracts, buyers paid up front for the right to receive FAR tokens once Few and Far’s decentralized NFT marketplace was ready.

Prosecutors say Tarsha sold 95 million FAR tokens to at least 67 investors and raised over $10 million that was supposed to be put toward funding the platform and the token. 

Instead, the funds were spent in an online casino, invested in risky cryptocurrency trades, and even used to pay off a loan tied to a Miami condominium. Tarsha also funded his DJ hobby with the money and paid for some interior design work. 

… Continue reading the full article at the original source below.