United States of America v. Cristian Popescu

Seattle, Washington, criminal defense lawyer represented the Defendant charged with wire fraud, in violation of 18 U.S.C. 1343, and money laundering, in violation of 18 U,S,C 1957.

Cristian Popescu, 46, of Bothell, Washington, claimed to own and operate a Bellevue company called Followone, Inc. Popescu claimed the company had an internet platform that was both an online global marketplace and social network. He claimed users of the platform could buy and sell goods and services, including cars, real estate, health care, food, and travel. In fact, the platform was a web of non-functional screens and Popescu used lies and deception to attract more than 30 investors. Popescu’s lies included: that the company earned millions in revenue; that it was about to be listed on the Nasdaq stock exchange; and that the company had grown the value of shareholder investments.

Popescu used his role as a pastor to recruit investors from his church, telling them that God had chosen them to invest in the company and that doing so would further the church’s mission. Popescu told investors their investments would remain within Followone and that they could withdraw their money at any time.

Popescu was secretive in his communications with the investors, requiring them to sign non-disclosure agreements and use encrypted messaging services. When meeting in person with investors, he required them to turn off their phones and disable ‘smart’ devices such as Amazon’s Alexa service.

Popescu maintained the image of a successful company by issuing his own press releases with false and misleading representations about the success of the company. He falsely claimed to have hired leading software engineers from major companies. He rented expensive office space in Bellevue and claimed to have twenty employees, when there were only three people working there.

Popescu told his victims they could be on the board of Followone Inc. if they reached $1 million invested. He urged victims to raid their retirement accounts, take out personal or home equity loans, and raid their children’s college savings accounts.

Popescu used shell companies to make it appear Followone had business dealings with other companies. In fact, he was just using investor money to pay fake invoices and then used those payments to shell companies he controlled for his own benefit. Popescu lulled his investors by creating a website that claimed their investment had grown substantially in value. At one-point Popescu claimed Followone Inc had a value of $1.4 billion, when he knew it had little or no value.

Ultimately, the company was evicted from the expensive offices with an unpaid rent bill of more than $350,000. When investors wanted their money back Popescu stalled, claiming repayment would interfere with the stock listing. When investors pressed Popescu for more information about Followone or expressed doubts about Popescu’s representations, Popescu invoked his position in the church, became irate, and told the investors they were demonically possessed.

Popescu transferred invested funds directly to his bank account. Then he used those funds for personal use or to fund Popescu’s personal investment account. Popescu transferred over $4.5 million of Followone funds to accounts belonging to himself, his wife, and other family members. Popescu also paid himself over $1 million in Followone wages between 2017 and 2024. He paid his wife some $300,000 though she was not a Followone employee,

Popescu is charged with ten counts of wire fraud in connection with the solicitation and payment of investments. One victim invested nearly $1 million in one wire transfer, others were nearly $600,000 and $500,00. The five money laundering counts detail how Popescu transferred invested funds from the Followone account to his personal bank account for his use.

Over the objections of prosecutors, Popescu was ordered released on electronic monitoring while awaiting trial.

The case is being investigated by the FBI and Internal Revenue Service Criminal Investigation (IRS-CI).