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The Trials of Marcus Schrenker

Because the incident involved an aircraft, and crimes spanned a number of states, including one coastal state, Marcus Schrenker (38) may be prosecuted by the United States Coast Guard, the Federal Aviation Administration, as well as Indiana, Alabama, and Florida law enforcement.

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.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. 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. On January 9, he lost $533,500 in a federal court ruling in Maryland against one of his companies.

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.There is speculation that Schrenker’s accumulated personal and business problems may have caused his attempt to fake his own death.

On February 5, 2009, an Alabama circuit court judge granted a $12 million judgment against Schrenker for the 2002 sale of a defective airplane to a man in Dothan, Alabama.

Indiana prosecutors hope to begin his trial in their state as early as April.

On March 6 2009, a letter Marcus Schrenker wrote to the Indiana Attorney General and Indiana Secretary of State was published by the news media. In the letter, Mr. Schernker attempted to proclaim his innocence and unfreeze assets stated to belong to his wife. The unredacted pages of the letter can be found here.

Source: wikipedia