IBJNews

Schrenker faces nine more charges in Indiana

Back to TopCommentsE-mailPrintBookmark and Share

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. "This was a very localized, Indiana issue," he said. As in, Indiana failed to expand Medicaid to cover its poor citizens resulting in the loss of essential medical services, including this EMS company. Well done, Indiana GOP. Here are the real death panels: GOP state governments who refuse to expand Medicaid for political reasons.

  2. In the "one for all, all for none" socialist doctrine the sick die...this plus obama"care" equates to caucasian genocide plus pushed flight to cities thus further eroding the conservative base and the continualed spiral toward complete liberal/progressive/marxist America.

  3. There is a simple reason why WISH is not reporting on this story. LIN has others stations in different markets that are affiliated with CBS. Reporting about CBS blindsiding WISH/LIN due to CBS's greed and bullying tatics would risk any future negoations LIN will have with CBS in other markets.

  4. My best always! Dave Wilson

  5. How did Columbus, Ohio pull off a car share service without a single dollar of public subsidies? They must not have a mayor who is on the take like Indianapolis. Daimler Benz offers Columbus residents their Smart Cars on a market-driven basis: "This has some neat features. Cars don’t have to be picked up and dropped off at fixed points. You find one with your smart phone based on GPS, and drop it off anywhere in the service area you can find a spot – even at a meter. These cars aren’t required to feed the meter so you get free on street parking while using them. I was told this system was put in place on a market basis without subsidies – and that the vendor actually pays the city for the use of the meters." http://www.urbanophile.com/2014/05/26/checking-in-on-columbus/

ADVERTISEMENT