Wausau Man Faces Federal Charges in $16 Million Investment Fraud Case
A Wausau man, Stanley Pophal, 63, has been charged with federal crimes following allegations of orchestrating a $16 million investment scheme. According to a recently released affidavit by prosecutors, Pophal solicited funds from 128 investors, using a significant portion of their money to support a lavish lifestyle, including an extensive collection of over 300 snowmobiles.
The U.S. Attorney Timothy M. O’Shea disclosed that Pophal is facing two counts of wire fraud and money laundering. His court appearance in Madison this week marked a significant development in the case.
Prosecutors allege that Pophal employed various tactics to entice investors, presenting himself as a successful businessman with fabricated narratives about his wealth. He claimed to manufacture and sell car wash dryers, stated he was connected to the affluent Fromm Brothers Fur and Ginseng Farm dynasty, and even asserted that he had been divinely blessed with financial success.
In addition to his snowmobile collection, prosecutors noted that Pophal acquired motocross bikes and race cars, further showcasing his extravagant spending. Records from the Wisconsin Department of Workforce Development revealed that Pophal has not held any employment since 2010.
An investigation involving 21 of his victims revealed that Pophal lured one investor with promises of 30% to 40% returns on a $50,000 investment, which he claimed would be used to renovate commercial properties. After the victim wired the funds, Pophal allegedly diverted the money for personal expenses, including a $35,000 payment to a contractor.
The federal charges stem from these transactions. As of now, Pophal’s attorney has not provided a response to media inquiries regarding the allegations.
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