Dumitru Popescu, the Romanian CEO of the New Mexico-based company Arca Space Corporation, which has developed an electric flying vehicle, was arrested on charges of fraud and embezzlement, reports The Associated Press.

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 USD 20,000.

Arca Space did not respond to an email sent by the agency, AP said.

Popescu was arrested last week in Jonesboro, Georgia, and extradited to New Mexico. He owns a Romanian passport, according to AP.

editor@romania-insider.com

(photo source: Dumitru Popescu on Linkedin)