A 46-year-old pastor in Washington State, Cristian Popescu, has been indicted on federal charges for allegedly defrauding members of his congregation of $13 million through a business investment scheme.
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According to federal prosecutors, Popescu leads Passion for Christ, a Christian congregation in Kirkland. They allege he told church members that God had chosen them to invest in his company, Followone Inc., a Bellevue-based startup he described as an e-commerce platform and social network.
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Alleged misrepresentations
Prosecutors say Popescu lied about the company’s revenue, stock value and plans to list on Nasdaq in order to attract about 30 investors. At one point, he allegedly claimed the firm was worth $1.4 billion, even though he knew it had little or no value.
He is also accused of promising investors seats on the company’s board in exchange for $1 million investments, and of urging some to withdraw money from their retirement accounts and their children’s education savings.
Funds allegedly diverted
Investigators allege that Popescu moved investors’ money through shell companies and fabricated invoices, sending more than $4.5 million into accounts belonging to himself and his family members. He is also accused of paying himself over $1 million in wages between 2017 and 2024, and of putting his wife on the payroll at roughly $300,000 even though she allegedly did no work for the company.
When some investors asked for refunds, prosecutors say, Popescu accused them of being possessed by evil spirits.
Charges and potential penalties
Popescu faces 10 counts of wire fraud and five counts of money laundering. He was arraigned before a federal court in Seattle and released under electronic monitoring.
If convicted, he could face up to 20 years in prison for each wire fraud count and up to 10 years for each money laundering count, along with possible fines. An indictment is an allegation, and Popescu is presumed innocent unless proven guilty in court.
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