A Washington pastor has been indicted for allegedly defrauding members of his church of $13 million through a fake investment scheme.
Cristian Popescu, 46, from Bothell, leads Passion for Christ, a Christian congregation in Kirkland. Federal prosecutors allege that he convinced about 30 investors to put money into Followone Inc., a Bellevue-based startup he described as an e-commerce platform and social network.
According to prosecutors, Popescu claimed God had chosen the investors to fund his business. He allegedly made up figures about the company’s revenue, share value and plans to list on Nasdaq. He also claimed the company was worth $1.4 billion, despite allegedly knowing it had little or no value.
Popescu allegedly offered board positions to people who invested $1 million and urged some to use their retirement funds and children’s college savings. One victim reportedly transferred nearly $1 million in one transaction.
Investigators said he used shell companies and fake invoices to divert money for personal use. More than $4.5 million allegedly went into accounts belonging to him, his wife and family members.
Prosecutors also allege he paid himself over $1 million in wages between 2017 and 2024 and paid his wife about $300,000, although she allegedly never worked for the company.
When investors sought refunds, he allegedly told them they were “demonically possessed.”
Popescu faces 10 wire fraud counts and five money laundering counts. He was arraigned in a Seattle federal court and released under electronic monitoring.
If convicted, he could face up to 20 years for each wire fraud count and 10 years for each money laundering count, plus possible fines. His trial is scheduled for December 21.
