Arrested ARCA Space CEO Maintains Innocence

Dumitru Popescu

A statement from ARCA Space:

ARCA Space Corporation will continue the development of its aerospace technology as scheduled.  The company has full confidence in CEO Dumitru Popescu and expects him to lead the efforts.  Mr. Popescu was charged in New Mexico state courts with alleged embezzlement and securities issues.  However, Mr. Popescu maintains his innocence and expects to prevail in court proceedings.

Meanwhile the work of the company will proceed with a goal of presenting a successful aerospike rocket engine.

ARCA Space will keep the public updated on the progress of the company.

  • Jacob Samorodin

    ROTFLMAO!…Why am i not surprised?…

  • Hemingway

    I bet CEO Dumitru Popescu wrote this comment! He is the company!

  • Mr Snarky Answer

    Him, the camera man, office manager, Romanian graphic designer and some interns hacking Python on Raspberry Pi or running a fiberglass shop like they are in the boat business.

  • therealdmt

    I’m innocent, man!

  • OldCodger

    He will get his day in court and If they find him guilty more than a day in gaol!

  • Hemingway

    ARCA just completed a stock deal for investors. ARCA Space Corporation went through the process of Direct Public Offering under the 202X Exemption with the Regulation and Licensing Department – Securities Division of New Mexico, to offer 5,000 shares at a value of $201.35 per share. By selling the stock, the company was looking to raise $1,006,750 to be used for research and development of ArcaBoard Technology products. The company’s current evaluation registered with the Department of State is $20,135,000. This number has to be exaggerated. How is the money being spent?

  • Hemingway
  • Hemingway

    This is laughable from 2009: “BRD supporting launch of first Romanian space rocket to Moon
    BRD – Groupe Societe Generale and the Association of Romanian Space Science and Aeronautics (ARCA) have concluded a three-year partnership to support the implementation of innovative technologies and the promotion of ARCA projects in the area of astronautics research, the bank reports in a press release. Under this partnership, BRD will provide 300,000 euros to ARCA in sponsorships to carry out a project for the launch of the first Romanian space rocket able to land on the Moon and beam pictures to the Earth. The new partnership, the bank says, is a reaffirmation of BRD’s support for Romanian achievements in the field of sciences at a time when research and education are in need of major funding.” This is all ARCA produced – a video. https://www.youtube.com/watch?v=3aNF_t3TC5s