State sells convicted money manager's plane

August 17, 2012

Indiana officials have sold a stunt plane owned by a former money manager who is serving a 14-year prison term for bilking investors. Secretary of State Connie Lawson said Marcus Schrenker's Model Extra EA 300/L stunt plane recently sold for $264,000. She said a total of $306,000 raised from the sale of Schrenker's assets has been given to his victims. The former Fishers resident pleaded guilty in 2010 to securities fraud. He owed $3.9 million to investors and $9 million to creditors.