Cases by state
Ponzi schemes in Wisconsin
16 cases announced 2012–2026, involving about $112.1M in reported investor money. Most common types: investment funds & advisory, trading, forex & commodities and real estate. Listed by where the main defendant was based.
The largest by reported amount: Timeless Auto Group ($30M, 2018). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “at least 20%”
- “connections in the finance, commodities, and real estate sectors”
- “never at risk”
- “purchase, fix, and flip real estate for profit”
- “false statements”
- “had promised to build”
- “saw little or no work done despite schlomann's representations”
- “less risky securities”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| Jun 12, 2026 | Bright with Silver Inc. Stanley Pophal |
Wausau, WI | Crypto & digital assets | $14.2M |
| Aug 6, 2025 | Joseph J. Nantomah | Milwaukee, WI | Real estate | $1.9M |
| Aug 30, 2024 | Refurbs Properties LLC Ross O. Schlomann |
Fremont, WI | Investment funds & advisory | $2.1M |
| Feb 29, 2024 | Prosper Wealth Management LLC Anthony B. Liddle |
Wausau, WI | Investment funds & advisory | $1.9M |
| Apr 13, 2022 | Xapphire LLC, AK Equity Group LLC, Xapphire Fund LLC Kay X. Yang, Chao Yang |
Mequon, WI | Trading, forex & commodities | $16.5M |
| Nov 23, 2021 | Blue Star Automotive Fund, IEF David O. Braeger |
Fox Point, WI | Investment funds & advisory | $5.5M |
| Mar 5, 2021 | Robert Narvett | Appleton, WI | Trading, forex & commodities | $1.7M |
| Nov 11, 2020 | Wisconsin Home Buyer's Network Joseph Nemeth, Jeremy Arrington |
Germantown, WI | Real estate | $2.8M |
| Jan 28, 2020 | Edward E. Matthes | Oconomowoc, WI | Investment funds & advisory | $2.4M |
| Dec 12, 2019 | Jamie Smith | Baldwin, WI | Energy & alternative assets | $1.2M |
| Apr 4, 2019 | Madison Financial Services Patrick O'Connor |
Waunakee, WI | Trading, forex & commodities | $9M |
| Jun 29, 2018 | Timeless Auto Group Albert Golant (aka Alex Golant) |
Wales, WI | Investment funds & advisory | $30M |
| May 23, 2018 | The Fiscal Concierge James A. Nickels |
Manitowoc, WI | Not specified | $5M |
| Jan 29, 2015 | Insurance Service Center Loren W. Holzhueter |
Watertown, WI | Insurance-linked | $10.4M |
| Oct 10, 2013 | Michael R. Enea | Menomonee Falls, WI | Investment funds & advisory | $2.1M |
| Sep 25, 2012 | Q Wealth Management Inc, Aquinas SF LLC Eric N. Schmickle |
Cedarburg, WI | Trading, forex & commodities | $5.3M |