A few weeks ago, Stanley Poffal of Wisconsin pleaded guilty to federal fraud charges after his Ponzi scheme was discovered. The would-be broker took millions of dollars from average investors and instead of investing said dollars, purchased snowmobiles, motorcycles, used cars, and more to satisfy his desire for a luxurious lifestyle.
It all came crashing down when the feds raided Popple’s home, seized his assets, charged him with money laundering and wire fraud, and threw the book at him. And rather than risk a trial verdict, Popple pleaded guilty and forfeited his assets to help partially repay his defrauded victims.
Now we know more about how that’ll happen, as the government has just announced it will auction off those assets, which include Popple’s massive 300-unit snowmobile collection, his motorcycles, and more. So if you’re looking for a cheap new vehicle, and you want to help some people get their lives back, now’s your chance.
according to ABC9 wowThe federal government has seized more than 600 items from Popple, a local ABC affiliate in Wisconsin, and will auction these items to help compensate those he defrauded.
The outlet spoke to U.S. Attorney Chadwick Elgersma, who said, “Recovery is an important part of our justice system. Our responsibility is not only to hold criminals accountable, but also to do everything under the law to help victims get back what was stolen from them.”
He added, “The seizure and sale of assets in this case is part of our efforts to bring full justice to Popple’s victims. The U.S. Department of Justice is committed to supporting victims, protecting the public, and using every available tool to confirm that fraud has real consequences.”
The auction will be conducted by apple auctionAnd it is said that it will start from July 28. However, after scrolling through the upcoming and previous lots, ride separately At least one lot was spotted already sold: a 1990 Nissan NPT-90 GTP race car chassis. The rolling chassis—sans engine and drivetrain—can be clearly seen in some federal indictment photos of Poffle’s huge garage, nestled among hundreds of motorcycles and snowmobiles. Why it was auctioned prematurely is not stated, but it appears it went for a song. For just $23,000.
It is anyone’s guess how much the other lots will fetch, because most of the sales will take place on the 28th of this month. Hopefully the government can return some money to the victims.
