Crooked Money Manager Gets 10-Year Term
A former Fishers, Ind., money manager has been sentenced to 10 years in prison for securities fraud.
Marcus Schrenker, who tried to fake his own death by intentionally crashing a plane and then fleeing to a Florida campground where he was subsequently captured, had been the subject of an investigation by the Indiana Secretary of State's Securities Division since December 2008.
The judge in the case today sentenced Schrenker to 10 years executed in prison running consecutively to the federal sentence of more than four years.
Secretary of State Todd Rokita’s Indiana Securities Division began an investigation into Schrenker and his businesses in December of 2008 and worked with the office of Hamilton County Prosecutor Sonia Leerkamp to bring criminal charges.
“Holding someone like Marcus Schrenker criminally accountable for his actions is important, and today marks a good end to that process. It is sometimes difficult to get substantial time like this for people who didn’t necessarily take a gun or knife to anyone. These criminal actions were done with a computer, a pen and a briefcase. He is now serving substantial time. I am pleased with the outcome of a very solid partnership with the Hamilton County Prosecutor’s office.
It is not the end of our work, however. Our civil receivership continues with a full-out effort to capture any of Schrenker’s current or future assets and get them back in the hands of the people who were the targets of his financial attacks.”
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