https://newsroomamerica.com/a/MjjdUzLD3pc78ZF6eF9V3vQ2q1G/stanley_pophal_64_admitted_guilt_to_wire_fraud_and_money_laundering_defrauding_190_investors_of_14_25_million_he_used_the_funds_to_finance_a_lavish_lifestyle_including_hundreds_of_vehicles_in_a_multi_year_ponzi_scheme.html

Stanley Pophal, a 64-year-old Wausau man, has pleaded guilty in U.S. District Court in Madison to wire fraud and money laundering, admitting to defrauding 190 investors out of $14.25 million.

Pophal, operating under the business name Bright with Silver, Inc. (formerly DBA Fromm Bros., Inc.), offered investment opportunities in cryptocurrency, real estate flipping, artificial intelligence technology, gold, silver, and emeralds between May 2019 and June 2025. He convinced most investors to sign promissory notes guaranteeing a rate of return of at least 20%, falsely claiming connections in finance, commodities, and real estate sectors. Pophal also assured investors their principal was safe due to his supposed vast personal wealth, which was untrue.

In reality, Pophal used the majority of investor funds for personal and business expenses, including travel, mortgage payments, renting a private plane, and purchasing hundreds of snowmobiles, motorcycles, and vehicles. He sustained the fraud by making “ponzi” payments, using new investors’ money to pay earlier victims, falsely presenting these as investment returns or interest.

U.S. Attorney Chadwick M. Elgersma said, “Today’s plea hearing makes one thing unmistakably clear: those who prey on hardworking people through deceit and greed will face decisive consequences.” Special Agent in Charge Adam Jobes of IRS Criminal Investigation added that Pophal “built a façade of wealth and success, then used that illusion to convince people to hand over their hard-earned money.” FBI Milwaukee Special Agent in Charge Alan Karr emphasized, “The FBI will always follow the money to root out investment fraud schemes.”

Pophal is scheduled for sentencing by U.S. District Judge William M. Conley on September 2, 2026. As part of his plea agreement, he agreed to forfeit over 600 items, including hundreds of snowmobiles, purchased with investor funds, which will be publicly auctioned. The charges against Pophal are a result of an investigation by IRS Criminal Investigation and the FBI.