Fraudster Pleads Guilty To Ponzi Scheme Involving Millions Worth of Snowmobiles

Let's say I wanted to do some crimes. Allegedly. The first thing I'd do is probably not buy over 300 snowmobiles and then store them where I live. Why? Because I feel like that'd be a really good indicator that I was doing some crimes. Personally, I'd...

My lawyer is advising that I don't finish that sentence. Stanley Pophal, however, clearly wasn't equally advised, as the Wausau, Wisconsin, man did exactly that during his multi-million-dollar Ponzi Scheme that defrauded a whole lot of folks in and around the area. We first reported on his arrest a handful of months ago, when the Feds seized the snowmobiles, among other assets, in the bust. Now, however, there's an update. 

He's pled guilty.

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According to the FBI's Milwaukee Facebook page, "Stanley Pophal, 64, Wausau, Wisconsin, pleaded guilty Friday to defrauding investors out of $14.25 million in the Western District of Wisconsin. According to court documents, Pophal defrauded 190 investors and used the funds to purchase hundreds of snowmobiles, motorcycles, and vehicles."

The original 10-count indictment alleges that Pophal engaged in wire fraud and money laundering, and used his tactics to build out a Ponzi scheme to enrich himself. He pled guilty to both, according to the DOJ press release. 

"Today’s plea hearing makes one thing unmistakably clear: those who prey on hardworking people through deceit and greed will face decisive consequences," said U.S. Attorney Elgersma, "The United States Attorney’s Office is committed to pursuing financial criminals wherever they hide, and we will never hesitate to bring the full weight of the justice system against anyone who abuses the public’s trust. I applaud the investigators for their hard work and commitment to holding Pophal accountable for his crimes."

Pophal will be sentenced by a judge this September, but as part of his plea agreement, the terms of which were not disclosed as of this writing, with the government, the fraudster will forfeit his assets, including the 300+ snowmobiles. The Feds will hold a public auction for them sometime in the near future.

Don't do the crime if you ain't got the time? Or maybe just be less obvious that you're doing crimes. 

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