Schrenker Facing $9 Million In Legal Claims

Alabama Indiana The financial management businesses owned by the Indiana pilot have faced repeated accusations of fraud for almost 7 years.
by The Associated Press
Published: Mon, January 19, 2009 - 10:17 am CST Last Updated: Mon, January 19, 2009 - 11:45 am CST
INDIANAPOLIS (AP) - An Indiana financial manager who parachuted
from a small plane in a suspected bid to fake his death handled
lucrative accounts in several states for years despite repeated
accusations that he was bilking investors.
Regulators in at least three states were warned about Marcus
Schrenker, in one case as early as 2002. Schrenker is now in a
northwest Florida jail.
It took nearly seven years before Indiana launched a criminal
investigation of Schrenker. Officials say he deliberately switched
his licensing from state to state to create confusion.
Felony charges are pending in Indiana, where authorities have
frozen Schrenker's assets and those of his wife. He also faces
nearly $9 million in potential and actual judgments and legal
claims.
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