Seattle Man Indicted in $13 Million Fraud Scheme

Cristian Popescu faces federal charges for allegedly defrauding church members through a fake marketplace company.

Updated on Oct. 28, 2026 in Financial Crime

Seattle Man Indicted in $13 Million Fraud Scheme

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Federal prosecutors have indicted Cristian Popescu on wire fraud and money laundering charges, alleging he defrauded more than 30 church members in a $13 million scheme. Popescu, who pleaded not guilty in U.S. District Court in Seattle, is currently released on electronic monitoring.

Why it matters

The indictment details a massive financial deception where over $4.5 million in investor funds were allegedly diverted to personal and family accounts. Authorities claim the defendant fabricated business success to solicit money from victims in his community.

Cristian Popescu faces ten counts of wire fraud and five counts of money laundering, each carrying maximum prison penalties of 20 and 10 years respectively. He is currently out on electronic monitoring while awaiting a December 21, 2026, trial.

The players

Cristian Popescu

He is the defendant accused of orchestrating a multi-million dollar fraud scheme targeting church members.

Federal Bureau of Investigation

This federal law enforcement agency led the investigation into the alleged financial crimes.

The details

Popescu allegedly claimed his company, Followone, Inc., was worth $1.4 billion by using a non-functional online marketplace and fabricated presentations. To create an appearance of legitimacy, he reportedly signed contracts with shell companies he controlled while failing to pay more than $350,000 in office rent.

2015: Popescu began claiming to own the company Followone, Inc.
2017-2024: Popescu reportedly paid himself wages using investor funds.
October 27, 2026: The FBI officially announced the indictment.
December 21, 2026: The trial is scheduled to begin.

Legal Context

This indictment aligns with ongoing federal efforts to prosecute sophisticated investment fraud under the federal wire fraud statute (18 U.S.C. § 1343). Such cases reflect a broader pattern of federal scrutiny regarding schemes that use digital platforms to deceive private investors.

Residents in the local community who may have had financial dealings with Followone, Inc. are advised to contact federal authorities regarding their investments. This case serves as a warning for local investors to verify the business registrations and financial records of private companies.

The takeaway

Investment fraud often relies on personal relationships and fabricated business success to establish false credibility. Readers should independently verify all claims made by private companies before transferring funds or entering into investment contracts.