IBJNews

Schrenker faces nine more charges in Indiana

Back to TopCommentsE-mailPrint

An Indiana money manager scheduled to be sentenced today in Florida on charges he deliberately crashed his plane to fake his death and flee financial ruin now faces more charges in his home state.

The Indiana Secretary of State’s Office said this afternoon that Hamilton County Prosecutor Sonia Leerkamp filed nine additional charges of fraudulent sale of securities against Marcus Schrenker.

The new charges are Class C felonies punishable by two to eight years in prison and are in addition to the two felony counts of securities fraud he was charged with in Hamilton County in January.

Schrenker, 38, pleaded guilty in June to placing a false aircraft distress call and intentionally crashing his airplane. The Fishers man was scheduled to be sentenced today in U.S. District Court in Pensacola, Fla. Sentencing guidelines range from 46 to 63 months in prison and payment of $871,000 in restitution for the aircraft.

Authorities say Schrenker in January put his plane on autopilot before it crashed in Florida’s Panhandle. They say Schrenker parachuted into Alabama and was found two days later at a Florida campground.

Indiana authorities intend to prosecute Schrenker on separate charges related to his financial dealings in the state.

“These new charges supplement the original charges filed in January and reflect the broader scope of Schrenker’s alleged financial misdeeds that prompted this investigation,” Indiana Secretary of State Todd Rokita said in a prepared statement.

According to Hamilton County court documents, Schrenker defrauded his clients by selling them an unauthorized foreign currency fund, creating and maintaining false account information, and using client funds for his own personal use.

Schrenker and his financial services businesses originally became the targets of an investigation by the Indiana Securities Division in December. The next month, investigators received approval to freeze his personal and business assets in an attempt to recover as much money as possible for his victims. Schrenker’s assets remain in receivership.

Schrenker then fled the state and was captured and arrested in Florida.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.

  2. Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.

  3. I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.

  4. The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.

  5. I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!

ADVERTISEMENT