Alabama airplane lawsuit judge awards Dothan man $12 million

2009-02-07 02:38:49 (GMT) (JusticeNewsFlash.com - Business Litigation)

Indiana financial advisor to pay $12 million in airplane fraud lawsuit

Alabama judge orders Indiana pilot to pay $12 million in airplane litigation.

West Palm Beach, FL (JusticeNewsFlash.com)–The Indiana financial manager, who staged his own plane crash, has been ordered by an Alabama judge to pay $12 million in damages in a lawsuit on Thursday. The Associated Press (AP) reported on Friday the judgment was handed down by an Alabama judge ruling in favor of the plaintiff, Barnett Hudson.

Marcus Schrenker is the same Indiana pilot who was caught by Florida authorities last month, after staging his own death in an attempt to avoid prosecution of a long list of securities and wire fraud charges in several states. He was arraigned in a Tallahassee court room last month on several of fraud charges and criminal charges by the district attorneys office.

Hudson, a resident of Dawson, Alabama, filed the lawsuit claiming Schrenker had sold him a damaged airplane in 2002. Federal, state and local attorneys offices in multiple jurisdictions claim Schrenker was previously facing $9 million in court judgments and jury verdicts plus penalties when he crashed a plane in Alabama faking his own death.

Legal news for West Palm Beach securities fraud lawyers by JusticeNewsFlash.com