The United States Department of Justice said Popescu, a Romanian citizen and pastor of Passion for Christ Church, was arraigned on Tuesday, October 13, 2026, at the US District Court in Seattle.
Popescu pleaded not guilty to the charges, and his trial has been scheduled for December 21, 2026.
According to the indictment, Popescu allegedly established and operated a fictitious internet company known as Followone Inc., which he portrayed as a successful online marketplace and social networking platform.
Prosecutors alleged that he presented the Bellevue-based company as a platform where users could buy and sell goods and services, including cars, real estate, healthcare, food and travel.
However, investigators said the platform consisted largely of non-functional screens, while its purported commercial success was allegedly fabricated to attract investments.
Acting US Attorney Charles Neil Floyd said Popescu allegedly used deceptive marketing materials, websites and expensive office facilities to convince investors that Followone was a valuable and profitable business.
“Popescu lured investors from his church with fake marketing materials, websites, and expensive offices, and then took their money for his own luxuries and day trading, betraying them financially and faithfully,” Floyd said.
Prosecutors alleged that Popescu exploited his position as a religious leader to persuade members of his congregation to invest in Followone.
According to the indictment, he allegedly told prospective investors that the company was generating millions of dollars in revenue, preparing for a listing on the Nasdaq stock exchange and increasing the value of shareholders’ investments.
He also allegedly told church members that God had chosen them to invest in the company and that their contributions would help advance the church’s mission.
Popescu reportedly assured investors that their money would remain within Followone and could be withdrawn whenever they wished.
However, prosecutors alleged that he transferred millions of dollars from the company to bank accounts controlled by himself, his wife and other relatives.
More than $4.5 million in Followone funds was allegedly transferred to accounts belonging to Popescu and members of his family.
The indictment further alleged that Popescu paid himself more than $1 million in wages between 2017 and 2024, while his wife, whom prosecutors said was not an employee of Followone, received approximately $300,000.
Investigators also accused him of establishing shell companies to create the impression that Followone had legitimate business relationships with other organisations.
According to prosecutors, investor funds were allegedly used to pay fraudulent invoices issued by the shell companies, which Popescu controlled, before the money was diverted for his personal benefit.
The indictment further alleged that Popescu created a website displaying purported increases in the value of investors’ holdings.
At one point, he allegedly claimed that Followone was worth $1.4 billion, despite knowing that the company had little or no actual value.
Prosecutors said he also issued press releases containing false claims about the company’s performance and allegedly claimed to have recruited software engineers from major technology companies.
To reinforce the impression that Followone was a successful enterprise, Popescu reportedly rented expensive office space in Bellevue and claimed the company had 20 employees.
Investigators, however, alleged that only three people actually worked for the company.
The indictment also stated that Popescu offered investors the opportunity to join Followone’s board if they invested at least $1 million.
Prosecutors alleged that he encouraged some investors to withdraw funds from their retirement accounts, obtain personal or home-equity loans and use their children’s college savings to finance their investments.
Some victims reportedly invested hundreds of thousands of dollars. One investor allegedly transferred nearly $1 million in a single transaction, while others reportedly invested close to $600,000 and $500,000.
According to prosecutors, Popescu imposed strict confidentiality requirements on investors, requiring them to sign non-disclosure agreements and communicate through encrypted messaging services.
During meetings, he allegedly instructed investors to switch off their mobile phones and disable smart devices, including Amazon Alexa.
When investors subsequently sought to recover their money, Popescu allegedly delayed repayment, claiming that returning their funds could jeopardise Followone’s planned stock-market listing.
Prosecutors further alleged that when some investors questioned his claims about the company, he invoked his pastoral position, became angry and accused them of being “demonically possessed.”
The alleged scheme eventually unravelled after Followone was evicted from its expensive Bellevue offices over an unpaid rent bill exceeding $350,000, according to the indictment.
FBI Seattle Special Agent in Charge W. Mike Herrington said the allegations involved the exploitation of trust placed in a religious leader by members of his congregation.
“These charges allege that a religious leader abused the trust of his fellow believers to steal millions of dollars for his own personal benefit,” Herrington said.
He added that Popescu allegedly persuaded dozens of church members to invest by making promises about a future stock-market listing and claiming that the company’s profits would benefit the community.
Carrie Nordyke, Special Agent in Charge of the Internal Revenue Service’s Criminal Investigation division, also warned that financial crimes could have devastating consequences for victims, particularly when perpetrators exploit positions of trust.
Popescu faces 10 counts of wire fraud relating to the alleged solicitation and receipt of investments, as well as five counts of money laundering involving transfers of Followone funds into his personal bank account.
According to the information provided by prosecutors, each wire fraud count carries a maximum penalty of 20 years in prison and a fine of up to $250,000. Each money laundering count carries a maximum penalty of 10 years in prison and a fine of up to $250,000.
Despite prosecutors’ objections, Popescu was ordered released under electronic monitoring pending trial.
He has pleaded not guilty, and the allegations remain unproven. The prosecution will be required to establish its case in court, where Popescu will have the opportunity to defend himself against the charges.
