Wausau Man Pleads Guilty to Wire Fraud and Money Laundering

MADISON, WIS. - A Wausau man has pleaded guilty in U.S. District Court in Madison to wire fraud and money laundering, according to Chadwick M. Elgersma, United States Attorney for the Western District of Wisconsin.

Stanley Pophal, 64, Wausau, Wisconsin, pleaded guilty today to defrauding investors out of $14.25 million and using investor funds to fund his lifestyle.

"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."

"Stanley Pophal built a façade of wealth and success, then used that illusion to convince people to hand over their hard-earned money," said Adam Jobes, Special Agent in Charge, IRS Criminal Investigation, Chicago Field Office. "Instead of investing those funds as promised, he spent them financing a lifestyle he could not afford and kept the scheme alive by using new victims' money to make payments to earlier investors. We will continue pursuing criminals who enrich themselves at the expense of honest people and hold them accountable for the damage they leave behind."

"The FBI will always follow the money to root out investment fraud schemes. Stanley Pophal operated a multiyear scheme in which he made false promises to investors. His actions led to the victimization of people while Pophal pocketed their money. Pophal then spent victims' money to fund his personal life and hobbies to include payment of his mortgage and purchasing hundreds of snowmobiles," said FBI Milwaukee Special Agent in Charge Alan Karr. "In addition to Pophal's guilty plea, he will be ordered to pay significant financial restitution. The FBI is committed to working with our partners to bring those who seek to enrich themselves by taking advantage of others to justice."

According to court documents, between May 2019 and June 2025, Pophal, using the business name Bright with Silver, Inc. (formerly DBA Fromm Bros., Inc.), offered investment opportunities; including cryptocurrency, real estate flipping, artificial intelligence technology, gold, silver, and emeralds. Pophal convinced most investors to sign investment contracts, which he styled as promissory notes. The promissory notes guaranteed investors a rate of return of at least 20%. Pophal told investors that he was able to secure high rates of return because he had connections in the finance, commodities, and real estate sectors.

Pophal also repeatedly told investors that even if his investments on their behalf were not successful, their investment principal was never at risk because he had enough personal wealth to repay each investor's principal. He told investors that he had accumulated his wealth through past business and investment success. In fact, Pophal's claims of past business success were exaggerated, and his claims of vast personal wealth were false. Pophal never had sufficient funds to personally guarantee each investor's principal.

Pophal used the vast majority of money he received from investors to pay his personal and business expenses, fund personal travel, pay his mortgage, rent a private plane, and purchase snowmobiles, motorcycles, and vehicles.

To further the fraud scheme, Pophal made "ponzi" payments to early victims, falsely representing the payments to be investment returns or interest, when in truth the payments were comprised of funds from new investors.

Pophal will be sentenced by U.S. District Judge William M. Conley on September 2, 2026.

As part of the investigation, law enforcement agents seized more than 600 items Pophal purchased using investor funds. The items included hundreds of snowmobiles, which Pophal stored in a rented warehouse. Two photos from that warehouse are below. As part of his plea agreement with the government, Pophal agreed to forfeit these items. Public auction of these assets will occur at a later date.

The charges against Pophal are a result of an investigation by IRS Criminal Investigation and the FBI. The prosecution is being handled by Assistant United States Attorney Meredith P. Duchemin.