A few weeks back, Stanley Pophal of Wisconsin pled guilty to federal fraud charges after his Ponzi Scheme was discovered. The would-be broker took in millions of dollars from average investors and, instead of investing said dollars, bought snowmobiles, motorcycles, vintage cars, and more to fund his want for a lavish lifestyle.
That all came crashing down as the Feds raided Pophal's home, seized his assets, charged him with money laundering and wire fraud, and threw the book at him. And instead of risking a trial judgment, Pophal pled guilty and forfeited his assets to help partially pay back his defrauded victims.
