Investment advisor accused of using investor funds to buy over 300 snowmobiles
A Wausau, Wisconsin, man is facing federal charges after allegedly defrauding more than 120 investors out of $15 million and using the funds to purchase an extensive collection of powersports vehicles, including over 300 snowmobiles, motocross bikes, and race cars.
Stanley Pophal, 63, was arrested June 15 and has been charged with wire fraud and money laundering, according to the U.S. Attorney’s Office for the Western District of Wisconsin. Authorities say the fraudulent investment scheme ran from 2019 through early 2025.
According to the criminal complaint, Pophal marketed promissory notes to investors, promising high guaranteed returns—some as high as 30 to 40 percent. He allegedly lured victims by claiming to be a wealthy businessman, falsely asserting ties to successful companies and showing off photos of boats and snowmobiles to project an image of financial success.
Prosecutors say that instead of investing the funds, Pophal used the money to fund a lavish lifestyle. In addition to the snowmobiles, he allegedly purchased motocross bikes, race cars, and made luxury payments for personal expenses. To maintain the illusion of legitimate investments, he reportedly used funds from new investors to make payments to earlier ones—known as “lulling payments.”
The complaint, unsealed this week, outlines how Pophal operated without a steady source of income since 2010 and yet convinced dozens of people to invest tens of thousands of dollars each. In one case cited by investigators, an investor wired Pophal $50,000 after hearing promises about flipping commercial properties into apartments. According to the affidavit, the funds were instead used for a $35,000 contractor payment related to Pophal’s personal business.
For powersports dealers, this case serves as an unusual yet cautionary reminder of how high-end vehicles—including snowmobiles, dirt bikes, and racing equipment—can be purchased using funds tied to fraud. While there is no indication that any dealers were involved in wrongdoing, the volume of vehicle purchases underscores the importance of being aware of suspicious transactions, particularly in high-dollar private sales.
The snowmobile fraud case has sparked national media attention due to its scale and its connection to the powersports market. Dealers and manufacturers should remain vigilant for financial red flags, particularly when customers make bulk or luxury-level purchases that deviate from normal patterns.
Pophal remains in federal custody and is presumed innocent until proven guilty in a court of law.
