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Schrenker faces nine more charges in Indiana

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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.
 

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  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

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