Florida federal court indicts Indiana financial adviser-intentional plane crash

2009-01-21 19:08:33 (GMT) (JusticeNewsFlash.com - Justice News Flash, Top Stories)

Fraudulent financial adviser intentionally crashed plane to avoid civil lawsuits

A federal court in Pensacola indicts man for intentionally crashing his plane. Indiana financial adviser charged criminally after multiple civil lawsuits.

West Palm Beach, FL (JusticeNewsFlash.com)–An Indiana financial adviser, who intentionally crashed his plane on January 11, 2009, in Santa Rosa County, has been indicted by a federal grand jury. As reported by the Associated Press (AP), Marcus Schrenker, 38, of Indiana apparently attempted to fake his own death in response to multiple lawsuits filed in several states for securities fraud.

Schrenker was found on January 13, 2009, in a campground outside of Tallahassee, Florida after abandoning his own airplane in mid-flight over Alabama and parachuting to safety. Police investigators say he used a motorcycle he had hidden to further his escape from criminal and civil charges of fraud.

An Indiana criminal court has charged him with two felony counts claiming he worked as an investment adviser without being registered. He has been named in several civil lawsuits, by securities fraud lawyers, in multiple states for fraudulent business practices and manipulating consumers into investing with him.

He was also charged in the court, by the Florida state’s attorney for faking his own distress call which is a Federal Aviation Administration (FAA) www.faa.gov violation. He is currently facing criminal charges filed by the district attorney in Indiana and the states attorney in Florida.

He remains in jail until his scheduled arraignment on January 22, 2009.

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