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DOJ charges Few and Far founder Taj Tarsha over alleged $10 million FAR token fraud

DOJ charges Few and Far founder Taj Tarsha over alleged $10 million FAR token fraud

The case adds scrutiny to SAFT-based token fundraising after prosecutors alleged money from at least 67 investors was diverted to gambling, personal spending and speculative crypto trades.

Fact Check
The DOJ SDNY press release directly confirms the core claim: the founder of Few and Far was charged (indicted) for securities and wire fraud after raising over $10 million from at least 67 investors via FAR token SAFT sales, then misappropriating the funds while misleading investors. The sealed federal complaint corroborates the details. The only discrepancy is the founder's name, spelled 'Taj Tasha' in the claim versus 'Taj Tarsha' in official records - a minor transcription variation that does not undermine the claim's substance.
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Summary

Federal prosecutors in the Southern District of New York indicted Few and Far founder Taj Tarsha on Aug. 5, 2026, after his June 6 arrest, accusing him of securities fraud and wire fraud over a SAFT-based FAR token raise that brought in more than $10 million from at least 67 investors starting in February 2022. Prosecutors say Tarsha sold rights to 95 million FAR tokens through Simple Agreements for Future Tokens to finance Few and Far's planned NFT marketplace and token ecosystem, but instead diverted company assets to online gambling, speculative crypto trades, housing-related costs, interior design bills and personal spending while the platform remained unfinished. The indictment also alleges Tarsha and another cofounder took $1.2 million in undisclosed bonuses, with the other cofounder later returning $600,000 after a June 2023 audit, and says FAR launched in May 2024 on a single exchange unavailable to U.S. investors before falling more than 99% from about $0.13. The case, assigned to U.S. District Judge Lewis A. Kaplan, underscores how U.S. authorities are pursuing criminal fraud claims where token fundraising documents described an investment that could constitute a security and restricted U.S. buyers to accredited investors under Regulation D.

Terms & Concepts
  • Simple Agreements for Future Tokens: Contracts in which investors provide funding in exchange for the right to receive tokens at a later date if they are issued.
  • accredited investors: Investors who meet regulatory wealth or income thresholds that allow them to participate in certain private offerings.
  • Regulation D: A U.S. securities exemption that allows certain private capital raises without full public registration, subject to conditions.