The Iowa Insurance Division’s Fraud Bureau conducted an investigation in February 2025 that led to five individuals from Iowa and Wisconsin each being charged with one count of Class D felony for violations of Iowa securities laws for selling securities without proper registration in the State of Iowa. The individuals facing charges are; Stanley Pophal, age 63, of Wausau, Wisconsin, David Halvorson, age 59, of Galesville, Wisconsin, Casey Halvorson, age 51, of McGregor, Iowa, Gary Halvorson, age 58, of McGregor, Iowa, and Debra Mink, age 65, of Prairie Du Chien, Wisconsin.
The five individuals charged had conducted investment meetings to encourage the purchase of securities in Allamakee, Winneshiek, Mitchell, Wapello, Clayton, and Madison counties. Participants were unaware that they were acquiring securities that needed to be registered with the State of Iowa.
“The Iowa Insurance Division's Fraud Bureau takes securities violations very seriously as Iowans deserve to have their hard earned money protected,” said Matt Mortvedt, Bureau Chief of the Iowa Insurance Fraud Bureau. “If you think you have been involved with any of these individuals or experienced other securities violations please contact the Iowa Insurance Division immediately.”
It is always important for Iowans to double-check before investing. A quick call to the Iowa Insurance Division or a visit to iid.iowa.gov can help protect Iowans from fraud by making sure that the person you are dealing with is licensed and in good standing. Victims of investment and securities crimes are urged to contact local law enforcement or the Iowa Insurance Fraud Bureau at 515-654-6556.
Note: A criminal charge is merely an accusation and a defendant is presumed innocent until proven guilty.