Assets of a scammer who swindled millions from investors in north central Wisconsin will be auctioned off.
The U.S. Attorney for Western Wisconsin says assets seized from Stanley Pophal of Wausau will be offered for sale online through public auctions starting July 28th.
The 64-year-old Pophal pleaded guilty on June 12th to wire fraud and money laundering after defrauding 190 investors out of $14.25 million.
As part of the investigation, law enforcement agents seized more than 600 items Pophal purchased using investor funds, including hundreds of snowmobiles that he stored in a rented warehouse.
He’s scheduled to be sentenced on September 2nd.
“Restitution is a critical part of our justice system. Our responsibility is not only to hold criminals accountable, but to also do everything within the law to help victims recover what was stolen from them,” explained U.S. Attorney Chadwick Elgersma. “The forfeiture and sale of assets in this case are part of our efforts to make Pophal’s victims whole. The U.S. Department of Justice is committed to using every available tool to support victims, protect the public, and reaffirm that fraud has real consequences.”
The auctions will be conducted online. The most current information is available on the Apple Auctioneering Co. website at www.appleauctioneeringco.com. Select “Schedule” to view details about the U.S. Treasury (WI Motorsports) auction and select “Information” to learn how to register and place a bid. If you intend to place a bid, you must register in advance.
Pophal’s criminal case was investigated by IRS Criminal Investigations, FBI, Marathon County Sheriff’s Office, and the Wausau Police Department, with assistance from the Iowa Insurance Fraud Bureau, Allamakee County Attorney’s Office, and the Allamakee and Winneshiek Sheriff’s Offices, also in Iowa.
