🔥 Feds Say an NFT Founder Raised $10 Million Only to Blow It All on Gambling, Trading, and a DJ Hobby.
Image: ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief DOJ charged Few and Far founder Taj Tarsha with securities fraud and wire fraud. Prosecutors allege he raised more than $10 million through token sales before misusing investor funds. If convicted, he faces up to 20 years in prison on each count.
Federal prosecutors have charged the founder of NFT marketplace Few and Far with securities fraud and wire fraud, alleging he raised more than $10 million from investors to build a Web3 platform before spending much of the money on online gambling, speculative cryptocurrency trades, and personal expenseslike funding a DJ hobby. Attorney's Office for the Southern District of New York said that Taj Tarsha, 34, was indicted for allegedly defrauding investors in Few and Far, a startup that sought to build a decentralized marketplace for non-fungible tokens better known as NFTs. 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.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #NFTMarketplace #Web3Infrastructure
Image: ShutterstockCreate an account to save your articles.Add on GoogleAdd Decrypt as your preferred source to see more of our stories on Google.In brief DOJ charged Few and Far founder Taj Tarsha with securities fraud and wire fraud. Prosecutors allege he raised more than $10 million through token sales before misusing investor funds. If convicted, he faces up to 20 years in prison on each count.
Federal prosecutors have charged the founder of NFT marketplace Few and Far with securities fraud and wire fraud, alleging he raised more than $10 million from investors to build a Web3 platform before spending much of the money on online gambling, speculative cryptocurrency trades, and personal expenseslike funding a DJ hobby. Attorney's Office for the Southern District of New York said that Taj Tarsha, 34, was indicted for allegedly defrauding investors in Few and Far, a startup that sought to build a decentralized marketplace for non-fungible tokens better known as NFTs. 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.
❓ What's your take is this the start of a bigger move or just noise? Drop it below.
$BTC $ETH
#SECryptoRegulation #NFTMarketplace #Web3Infrastructure