Fnalysis.
Professional Squeezer
An NFT founder promised investors 427% returns and spent the $10 million raised on a Miami penthouse and his DJ "hobby"
The FBI accuses Taj Tarsha, founder of NFT marketplace Few and Far, of securities and wire fraud for raising more than $10 million from at least 67 investors, promising them up to 427% annual returns on his FAR token, which never worked as advertised. Instead of building the product, the indictment says he paid himself a $360,000 annual salary, took $600,000 in "bonuses," and used company funds to buy a luxury Miami penthouse, decorate it, gamble at online casinos, and finance his personal hobby of DJing.
According to the indictment, shortly after founding the project in 2022, Tarsha privately described it as "the last juice I have to squeeze" and a "magic ticket to a $10-30M exit" within 18 months. The FAR token took more than two years to launch, and has since lost over 99% of its value.
Source: Fortune →The only real exit was the one from his Miami penthouse.