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Ashland Today
By the People, for the People
GOP Candidate Named in Settlement of 'Ponzi Scheme'
Wisconsin Republican Paul Wassgren faces questions about his financial background as he runs for Congress.
Published on Feb. 16, 2026
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Republican Paul Wassgren, a candidate for Congress in Wisconsin's 7th District, has been named in the settlement of a 'Ponzi scheme' case, raising questions about his financial background and experience as he runs against three other GOP candidates in the primary.
Why it matters
Wassgren's involvement in a 'Ponzi scheme' settlement could undermine his claims of financial expertise and corporate legal experience, which are central to his campaign platform. This development may also raise broader concerns about the integrity and transparency of the Republican primary race in this congressional district.
The details
According to Wisconsin Public Radio, Wassgren was named in the settlement of a 'Ponzi scheme' case, though the details of his specific role remain unclear. Wassgren has touted his background as a financial services broker and corporate attorney as key qualifications for the congressional seat.
- Wassgren is currently running in the Republican primary for Wisconsin's 7th Congressional District.
The players
Paul Wassgren
A Republican candidate for Congress in Wisconsin's 7th District who has been named in the settlement of a 'Ponzi scheme' case.
What they’re saying
“Republican Paul Wassgren of Ashland is touting his experience as a financial services broker and corporate attorney as he runs against three other GOP candidates in a primary for Northern Wisconsin's 7th Congressional District.”
— Wisconsin Public Radio (wn.com)
The takeaway
Wassgren's involvement in a 'Ponzi scheme' settlement raises questions about his financial background and expertise, which are central to his campaign platform. Voters in the Republican primary will need to carefully scrutinize Wassgren's record and qualifications in light of this development.
