Jurors deliberated about four hours before convicting Vaughn Reeves, 66, on nine counts of securities fraud.
Schrenker, 39, testified Tuesday that his assets had been seized and he had no source of income since going to jail. He also faces millions of dollars in court-ordered judgments upon his release.
A former pastor is going on trial for what authorities call a multimillion-dollar scheme that preyed on thousands of parishioners who thought they were helping build churches but were actually buying the man and his sons planes and sports cars.
Hamilton Superior Court Judge Steven Nation sentenced Marcus Schrenker to 10 years in prison, ignoring Schrenker’s claims that a lighter sentence would give him enough time to make things right.
Former money manager admits to bilking friends, family members and other investors out of millions of dollars before trying to fake his own death. He’ll be sentenced Oct. 7.
Dorothy Geisler-Tragardh, who had been a partner in a clean-coal energy company called Praxis Resource Partners LLC, was accused
of running a stock-sale scheme in which she took nearly $2 million from investors.
A new state law allows the securities commissioner to award up to $15,000 or 25 percent of unrecovered awards to victims who
can prove that a court or other agency awarded restitution for fraud that occurs after July 1 of this year.
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds
were clients of Jeff Cohen.