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 h...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
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.”
‘Biggest NFT trading platform on TRON,’ AINFT, has $6 in volumeRead 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.”
Eventually, the Few and Far team apparently realized that assets had been misappropriated, leading to Tarsha being removed from the firm’s multisignature wallet.
Tarsha then allegedly “paid Co-Founder-1 and the operations director a significant amount of company funds to induce them to hand over control of the company’s multi-signature wallet.”
Tarsha also allegedly reached directly out to investors as part of his ploy to regain control.
Eventually, Tarsha and the rest of the team did launch the token, which subsequently lost more than 99% of its value.
Few and Far never launched the promised NFT exchange.
Got a tip? Send us an email securely via Protos Leaks. For more informed news and investigations, follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel.
The post NFT firm founder indicted for using treasury to support ‘DJ hobby’ appeared first on Protos.
Why this matters
TRON is showing up inside the Institutional Adoption theme, so this story is worth tracking for follow-through rather than treating it as a one-off headline.
Original source
Read on ProtosRelated market context
Firmus transforms from Bitcoin miner to $10.5B AI infrastructure company after raising $2B
Firmus's pivot to AI infrastructure highlights a strategic shift in tech investment, emphasizing sustainable energy and regional e...
Bitcoin’s first institutional bear market is starting to take shape and draining liquidity
In an institutional bear market, a Bitcoin ETF redemption is almost aggressively boring. An investor sells shares, an authorized p...
Four years after FTX, crypto exchanges still prove assets without proving solvency
A customer opens an exchange account, copies a string of numbers and follows a path through a Merkle tree. The page processes the...
H100 Group becomes 26th-largest Bitcoin treasury company after acquiring two European firms
H100 Group's strategic acquisitions highlight Europe's growing influence in the corporate Bitcoin treasury market, challenging Nor...
Wintermute Enters $60T Wall Street Arena With SEC License to Power Tokenized Securities Boom
Key Takeaways: Wintermute USA is now an SEC-registered broker-dealer and member of FINRA. The approval will broaden its institutio...
US sanctions exposed a $6.3 billion crypto pipeline linking Iran and Russia
On Aug. 7, US authorities sanctioned Shelbit and Aban Tether, two Iranian-linked crypto platforms accused of facilitating transact...