Prosecutors Accuse Few and Far Founder of Diverting $10 Million From Web3 Investors

Federal prosecutors say the founder of NFT marketplace Few and Far raised $10 million from investors by promising the money would be used to build a Web3 platform, then diverted the funds to personal expenses instead.

The case matters because it adds to the broader scrutiny around crypto fundraising and investor protections, particularly in NFT and Web3 ventures where backers often rely heavily on founder representations about how capital will be used.

According to the allegations described by prosecutors, the investor money was not spent as promised on building the marketplace. Instead, authorities say it was used for gambling, trading, and a DJ hobby.

Few and Far was presented as an NFT marketplace tied to the wider Web3 sector. Prosecutors’ claims center on whether investor funds were raised under one set of promises and then used for unrelated personal purposes.

The allegations remain claims by authorities unless proven in court. For the crypto industry, the case is another reminder that fundraising narratives and actual use of proceeds remain a key focus for enforcement agencies.