Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business

Posted on July 14th, 2025 at 11:40 AM
Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business

From the desk of Jim Eccleston at Eccleston Law

Federal authorities have charged a Wisconsin man with orchestrating a multimillion-dollar Ponzi scheme that defrauded more than 120 investors over six years. According to a Department of Justice announcement, Stanley Pophal solicited over $15.8 million by falsely posing as a successful businessman and offering guaranteed-return promissory notes.

While self-described as an "investment advisor" by prosecutors, Pophal was not registered with either the Securities and Exchange Commission (“SEC”) or Financial Industry Regulatory Authority (“FINRA”). Financial Advisor News reports that he operated outside regulatory oversight, running what authorities now allege was a classic Ponzi operation.

Prosecutors claim Pophal assured investors their money would be safely invested with fixed returns. In reality, most of the funds went toward financing his extravagant lifestyle, including the purchase of more than 300 collectible snowmobiles and race cars. To perpetuate the scheme, Pophal allegedly used new investor funds to make payments to earlier investors, creating the illusion of legitimate returns.

Court filings revealed Pophal falsely claimed ties to a wealthy Wisconsin family and presented himself as a multimillionaire to boost his credibility with victims. None of those claims proved legitimate.

 

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next

Thank You from the bottom of our hearts for all you have done for us. When we realized this was a very bad investment - we did not know where to turn for help. Then we received your name. When we called you - you were so kind to us and then agreed to help us. For this we are so very grateful. The world would be a much nicer place if there were more people like the two of you in it. We will always remember all the help and kindness you have shown us. Thank you so very very much for everything.

Wayne and Judy S.

LATEST NEWS AND ARTICLES

July 16, 2025
Former CFA Institute Executive Charged in $5 Million Embezzlement Scheme

Michael J. Collins, the former chief marketing officer of the CFA Institute, has been accused of embezzling nearly $5 million from the financial education organization through a long-running fraud scheme designed to fund a lavish personal lifestyle.

July 15, 2025
Former Advisor Sues Prime Capital Again Over Unpaid Equity Redemption

A former San Diego-based advisor has filed a second lawsuit against Prime Capital Financial, alleging breach of contract after the firm failed to honor agreed-upon terms related to his equity buyout.

July 14, 2025
Wisconsin Man Charged in $15.8 Million Ponzi Scheme Disguised as Investment Advisory Business

Federal authorities have charged a Wisconsin man with orchestrating a multimillion-dollar Ponzi scheme that defrauded more than 120 investors over six years.