A Washington pastor allegedly raised at least $13 million for a technology investment whose online marketplace could not complete a single customer purchase, according to a federal indictment.
Cristian Popescu, 46, of Bothell, led the Passion for Christ congregation in Kirkland while promoting Followone Inc., a Bellevue venture. Prosecutors say he used his position at the church to win investors’ trust while making misleading claims about the business.
More than 30 people provided investments and loans, according to the filing. Prosecutors allege that money intended for Followone was diverted for personal spending and stock trading, while some investors struggled to recover their funds.
Popescu pleaded not guilty on Oct. 13, 2026, to ten counts of wire fraud and five counts of money laundering, the U.S. Attorney’s Office announced. The indictment was filed in federal court in Seattle on Oct. 7.
He Said God Chose the Investors and Urged Them to Use Their Savings
In the 13-page indictment, prosecutors allege that Popescu presented Followone as a global marketplace and social network built around secret technology. Prosecutors also allege that Popescu told investors God had chosen them to invest in Followone and that doing so would advance the church’s mission. He claimed buyers and sellers could transact in fields ranging from cars and real estate to travel and health care. He also said prospective buyers had offered hundreds of millions of dollars for the company, but that God had directed him to keep it and use future earnings to help children, older residents and the church.
Popescu encouraged supporters to draw on savings, take out personal or home equity loans and liquidate college and retirement funds, according to the filing. Some were directed to move retirement assets into self-directed IRAs and then send the proceeds to a Followone account he controlled. He told investors they could withdraw their money whenever they wanted.
Large contributions were supposed to confer influence. Investors who reached thresholds such as $1 million were named to Followone’s board, but prosecutors say they received neither real oversight authority nor the financial information needed to govern the business. Participants were also required to sign nondisclosure agreements, use encrypted messaging services and turn off phones and recording devices during meetings.
Six Million Car Listings Could Not Produce an Online Sale
Prosecutors say programmers populated Followone’s website with data that made it appear to have a working marketplace. Popescu bought access to vehicle listings from Marketcheck, a supplier of automobile inventory information, and promoted access to more than six million cars. The indictment says no cars were bought or sold through Followone and the site lacked the ability to execute those transactions.
A real estate broker supplied property listings from a multiple listing service, creating a similar impression that homes could be purchased through the platform. Investigators allege those pages could not process property transactions either. Popescu also assigned impressive executive titles to people who did not perform the corresponding duties.
He leased and furnished expensive offices in downtown Bellevue and announced staffing plans suggesting a substantial operation. Prosecutors say approximately three people worked there, mainly on the nonfunctional webpages. In 2019, he allegedly told an investment bank Followone had earned $4.1 million in the year’s first three quarters and could generate $61 million to $84 million in 2020 with financing. The indictment says the company had generated no revenue.
Fake Invoices Made Money Circulate as Supposed Revenue
The indictment describes shell companies with names suggesting genuine online businesses. Followone allegedly issued invoices for software-development services it had not provided, then routed money through an intermediary called ADSB2B into those companies. Their operators sent the same funds back to Followone as purported payment for the invoices.
Rather than establishing outside customer sales, those transactions allegedly recycled Followone’s own money to make its books appear more active.
A $1.4 Billion Valuation Inflated Investors’ Holdings as Rent Went Unpaid
Followone provided investors with an online portal showing purported growth in the value of their shares. At one point, according to the indictment, Popescu assigned the company a $1.4 billion valuation, making some holdings appear to be worth millions or tens of millions of dollars.
Prosecutors say the company had little or no underlying value, and its financial problems were not disclosed to investors. Followone eventually lost its Bellevue office lease with more than $350,000 in overdue rent. Employees also stopped receiving wages when the company ran short of cash.
He Called Questioning Investors ‘Demonically Possessed’
When investors asked to withdraw their money, Popescu allegedly told them repayment could jeopardize an audit or the company’s expected Nasdaq listing. Those who pressed for financial information or expressed doubts encountered angry responses invoking his position as a pastor. The indictment says he told some of them they were “demonically possessed.”
The Roys Report separately located a church-posted video of a 2024 sermon in which Popescu described a vision of demons plotting against him, with his company among their targets. The sermon was not footage of the later conversations with investors described in the indictment.
SEC Filings Documented New Offerings, Not Government Approval
Followone also filed notices of proposed securities offerings with the Securities and Exchange Commission. A December 2024 Form D described an intended $50.4 million equity offering under Rule 506(c), reporting no sales under that particular offering at the filing date.
A separate October 2025 filing reported a $30 million proposed equity offering under Rule 506(b), with $25,000 sold to one investor at that time. Those figures refer to the specific offerings described in the notices, not all investments and loans alleged in the criminal case. A Form D is an issuer-submitted notice, not an SEC endorsement of a business or confirmation that its projections are true.
Prosecutors Say More Than $4.5 Million Went to Personal Accounts
According to the indictment, Popescu moved more than $4.5 million of Followone funds into personal bank accounts, including an account held with his wife. Prosecutors also describe nearly $900,000 sent to his personal stock-trading account and about $1 million used to pay his credit card debt.
He was paid more than $1 million in Followone wages between 2017 and 2024, while his wife allegedly received more than $300,000 in wages without being a genuine employee.
Fifteen Federal Counts Include a Nearly $1 Million Investor Wire
The ten wire fraud counts identify particular transfers and messages, including a $999,998.69 investor wire into Followone’s Bank of America account on Dec. 29, 2022. The five money laundering counts address separate specified financial transactions, including a $1 million transfer from a Followone account into Popescu’s personal account in January 2023 and a later $100,000 transfer to an E*Trade account.
Each wire fraud count carries a statutory maximum of 20 years in prison; the charged money laundering offenses carry up to ten years per count. Those are maximum penalties, not a prediction or a combined sentence. The Department of Justice says Popescu was released under electronic monitoring over prosecutors’ objections, with trial scheduled for Dec. 21, 2026. The FBI and IRS Criminal Investigation are investigating. Popescu is presumed innocent unless proven guilty.
How to Check an Investment Offered by Someone You Trust
The Securities and Exchange Commission warns that investment fraud can exploit trusted relationships within religious communities. Prospective investors should independently check a promoter’s credentials, request verifiable financial statements and ask for evidence of actual customers and revenue rather than relying on a polished website, claimed valuation or future stock-listing promise.
Before borrowing against a home or moving retirement savings, verify the specific offering and the people selling it through official Investor.gov resources. An SEC filing alone is not proof that an investment is safe. Preserve agreements, transfer confirmations and communications if concerns arise, and report suspected securities fraud through the SEC’s complaint portal.