BREAKING: Schrenker sentenced to 51 months in prison

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Indiana money manager Marcus Schrenker was sentenced to 51 months in federal prison today in Florida on charges that he deliberately crashed his plane to fake his own death and flee financial ruin, according to the Pensacola News Journal.

Schrenker was ordered to pay $34,649 in restitution to the U.S. Coast Guard, which searched for him after he made a fake distress call and put his plane on autopilot before it crashed in Florida’s Panhandle. Schrenker, a former Fishers resident, parachuted into Alabama and was found two days later at a Florida campground.

Judge Roger Vinson sentenced Schrenker after a lengthy and rambling speech by the amateur daredevil pilot, who sobbed and asked forgiveness from his family, air-traffic controllers and Panhandle residents.

Schrenker, 38, pleaded guilty to the charges in June.

Schrenker also must repay Harley Davidson Credit Corp. $871,387 for the plane, which crashed Jan. 11.

The newspaper said U.S. District Judge Roger Vinson recommended Schrenker be transferred to a federal facility in Indiana, where he faces numerous financial fraud charges.

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