NFT Marketplace Founder Allegedly Diverts Millions In Investor Funds to Gambling And Personal Hobbies
Founder of NFT marketplace Few and Far allegedly misappropriated $10M from investors for gambling, bonuses, and personal expenses.Summary
Federal prosecutors allege that Taj Tarsha, founder of the NFT marketplace Few and Far, raised $10 million from 67 investors by selling 95 million FAR tokens and promised to develop the platform. Instead, he allegedly used the money for personal expenses, including a Miami condominium loan, interior design, DJ hobby, online gambling, speculative crypto assets, and paid himself a $1 million bonus while keeping a high salary. The FAR token debuted in May 2024 but lost all value and stopped trading. As the U.S. Attorney’s Office stated, "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. 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." If convicted, Tarsha faces up to 20 years in prison on each count.
(Source：The Daily Hodl)