marcus schrenker

Information may change as the case progresses. Marcus Schrenker Born November 22, 1970 (1970-11-22) (age 38) Charge(s) Securities fraud, deceiving the Coast Guard,[1] illegal destruction of an aircraft[1] Status Captured, released from hospital, awaiting court mandated psychological examination in Pensacola Occupation Financial advisor Spouse Michelle Schrenker Children Three

Marcus Schrenker (born November 22, 1970)[2] is a financial manager known for attempting to fake his own death and the multi-state three day manhunt that followed.[3][4][5] Schrenker worked in Fishers, Indiana, and lived in McCordsville, Indiana.[6] Contents [hide] 1 Background 2 Fraud charges 3 Plane crash and manhunt 4 Capture 5 Trials 6 References 7 External links //

Background

Schrenker was an investment advisor, managing pension funds worth millions of dollars. He owned two private airplanes and a $1.7 million home on Geist Lake near Fishers, Indiana.[7][8] On October 15, 2005, Schrenker purchased a 6,260-square-foot (582 m2) home in Acworth, Georgia, for $1.65 million.[citation needed] Schrenker and his family lived in the neighborhood of Governors Towne Club in Acworth, Georgia, until the fall of 2007,[citation needed] after which they moved back to their previous neighborhood in Indiana.[citation needed] He owned three financial companies: Heritage Wealth Management, Heritage Insurance Services and Icon Wealth Management.[5]

Schrenker married Michelle Daley[9][10] in the mid-1990s, and they had three children together.[10]

Fraud charges

In January 2008, The Indiana Department of Insurance filed a complaint against Schrenker on behalf of seven investors who claim he neglected to inform them that they would face high fees if they switched annuities, which subsequently cost them roughly $250,000.[11][12] On December 31, 2008, Schrenker's Indiana state financial adviser's license expired and authorities raided his home in search of evidence of securities violations.[5][10] On January 6, 2009, Schrenker was charged in Hamilton County, Indiana with unlawful acts by a compensated adviser and unlawful transaction by an investment adviser, and his bail was set at $4 million.[5] On January 9, he lost $533,500 in a federal court ruling in Maryland against one of his companies.

In addition to Schrenker's mounting business problems, Schrenker's wife of 13 years, Michelle, filed for divorce on December 30, 2008.[11] The following day, she told the authorities searching their home that her husband had been having an affair.[13] A press release from her lawyers claims that she had no idea about Marcus' financial dealings, and their split was solely a result of his infidelities.[14]

In all, at least eight lawsuits were filed against Schrenker in the ten years leading up to his arrest, including slander, interfering with a business relationship, and failing to pay a contractor who worked on one of his homes.[15]