CEO of Arca Space Corporation arrested, on embezzlement and fraud charges

KVIA TV ^ | Nov. 12, 2017 | Evan Folan

[Tammy8]

Popescu has been charged with five different counts of embezzlement, 13 different counts of fraud and one count of forgery. The charges range from $100 to $20,000.

According to arrest records online, he was arrested in Jonesboro, Georgia Wednesday and then extradited to the Dona Ana County Detention Center.

[Tammy8]

He developed something like a hover board or at least claimed to. I don't know anything about this man or company, but he must have had a good story to get investors, local and state money. Most of the sources I found cannot be posted here at FR but interesting story to look into.

[ETL]

http://www.arcaspace.com/

[LegendHasIt]

NM Ping List

[laplata]

Thanks for the ping.

[SunkenCiv]

Thanks Tammy8.

the Executor linear aerospike engine that promises optimum performance at virtually all flight levels, allowing the use of up to 30% less fuel than any other rocket engine

probably equals prison time.

[Ken H]

“ARCA Space Corporation is an aerospace company based in Las Cruces, New Mexico that builds space rockets and other manned and unmanned aircraft intended for space exploration. It was founded in 1999 as a non-governmental organization in Romania by Dumitru Popescu and other rocket and aeronautics enthusiasts.”

https://en.m.wikipedia.org/wiki/ARCA_Space_Corporation