Few and Far NFT fraud case

NFT marketplace founder charged with securities and wire fraud

The FAR token launched but became effectively worthless.

In May 2024, the FAR token was launched, but according to prosecutors, it became effectively worthless and soon ceased trading.

This follows previous fund-raising activities where Taj Tarsha allegedly began raising funds in February 2022 through Simple Agreements for Future Tokens (SAFTs), during which investors were sold rights to 95 million FAR tokens.

Aurelien Michel pleaded guilty to wire fraud following an NFT rug pull.

In November 2023, Aurelien Michel, the creator of Mutant Ape Planet, pleaded guilty to wire fraud. The charge followed an NFT 'rug pull' that resulted in the defrauding of buyers of nearly $3 million.

An audit uncovered the alleged misconduct at Few and Far.

An audit conducted in June 2023 revealed alleged misconduct at the Few and Far marketplace. According to statements from FBI Assistant Director in Charge James C. Barnacle, Jr., Taj Tarsha is alleged to have used investor funds for personal benefit while concealing fraudulent conduct behind the crypto startup.

The allegations involve the raising of more than $10 million from at least 67 investors to develop a Web3 platform for the marketplace. This fundraising process reportedly began in February 2022 through the use of Simple Agreements for Future Tokens (SAFTs).

Taj Tarsha allegedly began raising funds through SAFTs.

In February 2022, Taj Tarsha, the founder of the NFT marketplace Few and Far, allegedly began raising funds through Simple Agreements for Future Tokens (SAFTs).