Money Manager Who Crashed Plane Gets 10 Years

By: Associated Press
By: Associated Press

Noblesville, IN. (AP) -- An Indianapolis-area money manager who
tried to fake his death in a Florida plane crash apologized for
bilking more than $1 million from investors, then heard a judge
sentence him to 10 years in prison.
Marcus Schrenker was sentenced on securities fraud charges
Thursday in Hamilton Superior Court in Noblesville. The judge
ordered that he serve the sentence before completing a four-year
federal prison term on charges from the January 2009 plane crash.
Schrenker pleaded guilty last month to five of 11 fraud counts
of bilking money from friends, family members and other investors.
Schrenker told the judge he was sorry for his actions when he
was caught in a downward spiral because of bipolar disorder and
addition to painkillers.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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  • by humantrick Location: N. Fl. on Oct 7, 2010 at 05:07 PM
    Downward spiral leads to plane crash.
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