The U.S. Department of Justice said Aug. 5 that Few and Far founder Taj Tarsha was indicted on securities fraud and wire fraud charges after prosecutors alleged he raised more than $10 million from at least 67 investors beginning in February 2022 by selling rights to 95 million FAR tokens through Simple Agreements for Future Tokens (contracts for future token delivery). The money was marketed as funding for a non-fungible token marketplace and the FAR token, but court filings say it was routed into personal wallets for online gambling, speculative cryptocurrency purchases and other personal expenses, while Tarsha also took nearly $1 million in concealed bonuses and salary. Prosecutors say an internal audit in June 2023 exposed the activity, that Tarsha later retook control of the treasury and preserved the appearance of development with one remaining contractor, and that FAR, launched in May 2024, became effectively worthless, soon ceased trading and has fallen more than 99%; Tarsha was arrested June 6, and each count carries a maximum statutory sentence of 20 years.