Business

Aerospace company CEO in New Mexico arrested for fraud

Posted November 13, 2017 6:00 am

The Associated Press

LAS CRUCES, N.M. (AP) - The head of a New Mexico company that drew national attention for developing an electronic flying vehicle has been arrested for fraud and embezzlement.

KVIA-TV in El Paso, Texas, reports Dumitru Popescu was arrested in Jonesboro, Georgia, last week and then extradited to southern New Mexico. He's the CEO of Arca Space Corporation - a Las Cruces company that develops commercial space launchers.

Popescu has been charged with five counts of embezzlement, 13 counts of fraud and one count of forgery.

According to a criminal complaint filed in Dona Ana County District Court, Popescu lied to the Chicago-based Anova Technologies to obtain around $20,000.

Arca Space did not immediately respond to an email from The Associated Press.

It was not known if Popescu, who has a Romanian passport, had an attorney.

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