Wausau Man Faces Federal Charges for $16 Million Investment Fraud
Wausau, WI – Stanley Pophal, a 63-year-old Wausau resident, has been charged with federal wire fraud and money laundering in connection with a $16 million investment scheme, as detailed in an affidavit released this week by U.S. prosecutors.
According to the affidavit, Pophal solicited money from 128 investors, using the lion’s share of those funds to support a lavish lifestyle. This included a notorious collection of over 300 snowmobiles, among other luxury purchases like motocross bikes and race cars. U.S. Attorney Timothy M. O’Shea emphasized the extravagant nature of Pophal’s spending, describing it as overly indulgent for someone who claimed to be a successful entrepreneur.
Pophal allegedly used various tactics to attract investors, portraying himself as wealthy and influential. He claimed expertise in creating and selling car wash dryers and spun tales of a familial connection to the Fromm Brothers Fur and Ginseng Farm, a prominent business in Marathon County. Additionally, he boasted of being divinely favored in his financial dealings, promising lucrative returns of 30 to 40 percent on investments aimed at flipping commercial properties into apartments.
Despite these grand allegations, official records from the Department of Workforce Development reveal that Pophal has not held a job since 2010. Prosecutors spoke to 21 victims who detailed their experiences with Pophal, including one who transferred $50,000 to him based on promised high returns.
The funds, however, allegedly went straight to his personal expenses, including a $35,000 payment to a contractor. This transaction forms the basis of the two federal counts against him. Pophal’s attorney has yet to respond to media inquiries regarding the case.
The court appearance took place in Madison this week, with proceedings ongoing.
Source
Photo credit www.wpr.org
