A Wausau man has pled guilty in a $14-million-dollar scam.
The U.S. Attorney’s Office for the Western District of Wisconsin says Stanley Pophal entered pleas to wire fraud and money laundering.
He allegedly defrauded investors and used the money to fund his lifestyle.
That included the purchase of hundreds of snowmobiles, motorcycles and vehicles.
“Stanley Pophal built a façade of wealth and success, then used that illusion to convince people to hand over their hard-earned money,” said Adam Jobes, Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. “Instead of investing those funds as promised, he spent them financing a lifestyle he could not afford and kept the scheme alive by using new victims’ money to make payments to earlier investors. We will continue pursuing criminals who enrich themselves at the expense of honest people and hold them accountable for the damage they leave behind.”
“In addition to Pophal’s guilty plea, he will be ordered to pay significant financial restitution. The FBI is committed to working with our partners to bring those who seek to enrich themselves by taking advantage of others to justice,” said FBI Milwaukee Special Agent in Charge Alan Karr.
As part of the investigation, law enforcement agents seized more than 600 items Pophal purchased using investor funds.
The items included hundreds of snowmobiles, which Pophal stored in a rented warehouse.
Court documents say between May of 2019 and June of 2025, Pophal offered investment opportunities including cryptocurrency, real estate flipping, artificial intelligence technology, gold, silver and emeralds.
He promised a return of at least 20%.
He also claimed investment principal was not at risk.
Some of the new money coming in was paid to longer term investors in a Ponzi scheme.
Pophal will be sentenced September 2nd.
