WAUSAU, WI — A Wausau man is facing federal charges after allegedly orchestrating a multimillion-dollar investment fraud scheme that ran for nearly six years.
Stanley Pophal, 63, was charged in federal court in Madison with wire fraud and money laundering after investigators said he deceived at least 120 investors into giving him more than $15 million between May 2019 and March 2025.
According to the U.S. Attorney’s Office, Pophal issued promissory notes that falsely promised guaranteed rates of return. Instead of investing the money as claimed, he allegedly spent it on a lavish lifestyle, including the purchase of more than 300 snowmobiles.
The criminal complaint describes Pophal’s actions as a Ponzi-style scheme, in which he used money from new investors to pay returns to earlier investors, giving the appearance of legitimate profits.
The case is the result of a joint investigation by the FBI and IRS. Pophal is currently being detained pending further proceedings, the U.S. Attorney’s Office confirmed.
This is not Pophal’s only legal trouble. In April, the Iowa Insurance Division’s Fraud Bureau charged him and four others with violating securities laws by selling unregistered securities. The co-defendants are:
David Halvorson, 59, of Galesville, WI
Casey Halvorson, 51, of McGregor, IA
Gary Halvorson, 58, of McGregor, IA
Debra Mink, 65, of Prairie Du Chien, WI
The Allamakee County Sheriff’s Office confirmed last week that investigations into the group’s activities are ongoing.
