Federal prosecutors say the founder of an NFT startup collected more than $10 million from investors by promising to build a digital collectibles marketplace, then diverted much of that money to gambling, cryptocurrency trading, luxury purchases and other personal expenses instead.

A federal grand jury in Manhattan returned an indictment charging Taj Tarsha, the founder and sole owner of Few and Far Limited, with securities fraud and wire fraud. Prosecutors contend the alleged misconduct stretched across several years and involved misleading investors about how company money was being used. Tarsha, 34, of Miami, was arrested on June 6, 2026, and the case is assigned to U.S. District Judge Lewis A. Kaplan.

Prosecutors allege NFT startup founder used investor funds for gambling 

According to the indictment, Tarsha began seeking investments in February 2022 through Simple Agreements for Future Tokens, or SAFTs, which promised investors FAR tokens at a later date. Prosecutors say investors were told the proceeds would finance development of Few and Far’s decentralized NFT marketplace and its cryptocurrency token. They allege the offering brought in more than $10 million through sales of 95 million FAR tokens to at least 67 investors.

“As alleged, Taj Tarsha raised millions of dollars from investors by promising that their investments would be used to build a marketplace for non-fungible tokens, but he instead breached their trust by stealing those funds for his own personal benefit,” Deputy United States Attorney Sean S. Buckley said. “Investors are entitled to the truth when choosing to make an investment, and this Office and our law enforcement partners will hold business leaders responsible when they lie for their own gain.”

The indictment says Tarsha privately described the NFT market as a “bubble” while viewing it as an opportunity for profit. Prosecutors also allege he called the venture “the last [company] I have in me,” “the last juice I have to squeeze,” and a “magic ticket to a 10-30M exit” within 18 months.

Investigators say investor money began moving into Tarsha’s personal wallets within months. The indictment alleges he spent company funds on online gambling, cryptocurrency speculation and personal expenses. Messages cited by prosecutors say he admitted using company assets for “personal reasons,” including gambling, acknowledged the conduct was “unethical,” and said he did not want to “be held liable and pay a fine.”

Prosecutors also allege Tarsha paid himself a $360,000 annual salary and secretly approved $1.2 million in bonuses. They say he admitted he was making “way too much money given we’re over 6 months delayed on product and making virtually zero revenue,” yet wanted to “squeeze out a lot first for us.” He allegedly said another co-founder would “freak [] out” if the bonuses became known.

After an internal audit in June 2023, prosecutors say Tarsha falsely reassured investors while privately messaging his then-fiancée, “[O]nce we get ahold of the treasury we’ll have more fun with them,” later adding he planned to “take in $200K” and then “take in another $500k.” They say he soon sent her a link to a $350,000 luxury yacht.

Rather than continue building the platform, prosecutors allege he cut nearly all staff and told the remaining engineer “the main goal of the NFTs and collections we are displaying [on the website] is optics,” encouraging updates about features the company could build “even if we’re not planning to do it.” He also allegedly said he was “just playing a game” with investors who “do not understand crypto.”

The government says the FAR token launched in May 2024 before rapidly losing nearly all its value and eventually ceasing to trade. Prosecutors allege Tarsha kept using company money for speculative cryptocurrency purchases, a luxury Miami condominium, interior design services and his DJ hobby.

“Taj Tarsha is alleged to have concealed fraudulent conduct behind his crypto startup, using investor funds for personal benefit,” FBI Assistant Director in Charge James C. Barnacle, Jr. said. “Protecting the integrity of our financial markets is a priority, and the FBI remains steadfast in its commitment to conducting thorough and fact-driven investigations into potential financial offenses.”

If found guilty, he faces a maximum sentence of 20 years in prison.

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