Investing and Banking & Finance and Wealth Management

Auction to sell items from former money manager

June 14, 2010

An Indianapolis auction house is set to sell hundreds of items belonging to a former Indiana money manager convicted of trying to fake his own death in a plane crash.

The court-ordered auction includes a motorboat, jet ski and a $30,000 diamond ring — as well as a motorcycle that Marcus Schrenker used to flee police.

Schrenker is accused of bilking friends, family members and other investors out of more than $1 million. He was sentenced last year to four years in federal prison for a January 2009 Florida plane crash in which he tried to fake his own death.

In Hamilton County, Schrenker is charged with securities fraud and working as an investment adviser without being registered. He's set to go on trial there in October.

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