Dumitru Popescu, the CEO of ARCA Space, who was arrested in Atlanta, Georgia, last year over alleged fraud charges, having just arrived back into the USA, is continuing to protest his innocence. The US-based Romanian-founded rocket firm which has NASA investment to research hi-tech Aerospike engines and which was about to start testing its new engine for its planned Haas 2CA rocket when the arrest occurred.
ARCA Linear Aerospike engine on test stand (right) next to rocket design (left). Courtesy: ARCA
Having apparently turned down a “plea bargain” deal to admit his guilt in return for a relatively small reparation of US$78,000 – at least compared to the original demand of US$1 million – Popescu has reiterated his innocence and also alleged that he has been mistreated by the New Mexico Securities Division in their arrest procedure, given that no warrant was granted for his arrest. He also remains concerned that the length of time the case is taking to come to court is very much damaging ARCA’s prospects. Popescu further notes that it was his embittered ex-wife who originally made the fraud allegations and that while the FBI dismissed the case as probably without foundation, New Mexico’s authorities have nevertheless decided to continue with it.
The videos of Popescu’s counter allegations are here:
Intro Video: https://youtu.be/I2w8bLWV6Ro
Evidence Video: https://youtu.be/4vI4Tu7cb2o
