Federal prosecutors allege that Popescu, who leads Passion for Christ, a Christian congregation in Kirkland, persuaded church members to invest in his Bellevue-based startup, Followone Inc., by claiming that God had chosen them for the investment opportunity. He reportedly described the company as an e-commerce platform and social networking business.
According to prosecutors, Popescu allegedly misrepresented the company’s revenue, share value and plans to list on the Nasdaq stock exchange to attract about 30 investors. He is also accused of claiming that the company was worth $1.4 billion despite allegedly knowing it had little or no value.
Investigators further allege that Popescu promised investors seats on the company’s board in exchange for investments of $1 million. He also reportedly encouraged some investors to withdraw funds from their retirement accounts and their children’s education savings to finance the venture.
Prosecutors claim that he diverted investors’ money through shell companies and fabricated invoices, transferring more than $4.5 million into accounts belonging to himself and members of his family.
Between 2017 and 2024, Popescu allegedly paid himself more than $1 million in wages. He also reportedly placed his wife on the company’s payroll and paid her approximately $300,000, despite allegations that she performed no work for the business.
When some investors sought refunds, Popescu allegedly accused them of being possessed by evil spirits, according to the allegations.
Popescu faces 10 counts of wire fraud and five counts of money laundering. He was arraigned in federal court in Seattle and released under electronic monitoring.
If convicted, he could face a maximum sentence of 20 years in prison for each wire fraud count and up to 10 years for each money laundering count, in addition to possible fines.
The charges remain allegations, and Popescu is presumed innocent unless proven guilty in court.
