A man from Wausau faces federal accusations to manage an investment program of $ 16 million, according to an affidavit of prosecutors published this week.
Prosecutors say that Stanley Pophal, 63, received payments from 128 investors and used the “vast majority” of this money to finance an extravagant lifestyle – including a “large collection of snowmobiles”. In a press releaseAmerican lawyer Timothy Mr. O’Shea said that Pophal had bought more than 300 snowmobiles.
Pophal was accused of two heads of wire and money laundering, and he appeared before the Federal Madison court this week.
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According to the Affidavit, Pophal used a variety of techniques to attract investors, all designed to transmit its richness and its commercial success. He said he had created and sold car washing dryers. He said he was linked to the founders of The From Brothers Fur and Ginseng Farm, a rich dynasty of the county of Marathon founded at the beginning of the 20th century. And he told the targets that he had been blessed by God with good fortune, and he paid him by helping investors.
In addition to his collection of snowmobiles, prosecutors say that Pophal bought motocross bikes and racing cars.
He also said he was a millionaire or billionaire. Citing the ministry’s development files to do it of work, the Affidavit said that Pophal had not had a job since 2010.
Prosecutors interviewed Pophal targets 21. One of them said that Pophal was approaching him with stories about his richness, showing him photos of his collection of boats and snowmobiles.
He offered the victim an interest rate of 30 to 40% on an investment of $ 50,000, promising to invest it in the reversal of commercial properties to apartments.
On February 25, according to the prosecutors, the victim wired pophal the money.
The Affidavit claims that Pophal then used it for “personal expenses”, including “a payment of $ 35,000 to an entrepreneur for an expense linked to his business”.
This transaction is the basis of the two federal counts that Pophal is now loaded.
Pophal’s lawyer refused to comment on Wednesday afternoon.
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