Marcus Schrenker
Encyclopedia
Marcus Schrenker is a financial manager known for attempting to fake his own death
and the multi-state, three-day manhunt
that followed. Schrenker lived and worked in Fishers
, Indiana
.
s worth millions of dollars. He owned two private airplanes and a $1.7 million home in the Cambridge neighborhood on Geist Reservoir near Fishers, Indiana
. On October 15, 2005, Schrenker purchased a 6260 square feet (581.6 m²) home in Acworth, Georgia
, for $1.65 million. Schrenker and his family lived in the neighborhood of Governors Towne Club in Acworth, Georgia, until the fall of 2007, after which they moved back to their previous neighborhood in Indiana. He owned three financial companies: Heritage Wealth Management, Heritage Insurance Services and Icon Wealth Management.
Schrenker is a graduate of Purdue University, where he met his wife Michelle Daley in the mid-1990s, and they had three children together.
A picture that Schrenker sent around to friends contained him and his model wife posing in front of a Lexus GS
, a Lexus IS
, and a propeller plane.
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 addition to Schrenker's mounting business problems, Schrenker's wife of 13 years, Michelle, filed for divorce on December 30, 2008. The following day, she told the authorities searching their home that her husband had been having an affair. A press release from her lawyers claims that she had no idea about Schrenker's financial dealings, and their split was solely a result of his infidelities.
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.
, in a pickup truck carrying a red Yamaha
motorcycle with saddlebags containing money and supplies. He returned to Indiana after placing the motorcycle in a storage facility, telling the owner he would return and retrieve the motorcycle the following Monday.
On January 11, 2009, Schrenker departed in his turboprop single-engine Piper Meridian (tail number N428DC) from an airfield in Anderson, Indiana
, scheduled to fly to Destin
, Florida
. Near Birmingham, Alabama
, he made a distress call, telling air traffic controller
s that his windshield had imploded and he was "bleeding profusely." He then set the plane to autopilot
and parachuted out. The plane flew on, crossing Alabama before ultimately crashing in Santa Rosa County, Florida
. Military jets that had been dispatched to intercept Schrenker's plane discovered it in flight, with its door open and cockpit empty. They followed the plane until it crashed just north of Milton, Florida
at about 9:20pm. The plane had flown 200 miles (321.9 km) on autopilot
and crashed 50 to 75 yards from a residential area. Upon inspecting the crash site, investigators discovered that there was no blood inside the plane and the windshield showed no sign of problem. On board the aircraft they found an United States atlas
and a national campground directory, both of which had the Florida and Alabama sections torn out.
After parachuting to the ground, Schrenker made his way to a private residence in Childersburg, Alabama
, arriving around 2:30am on January 12. Appearing wet from the knees down, he told the resident he had been in a canoe
ing accident. He received a ride into town, where he made contact with the local police station. Not yet linking Schrenker to the crash, the police brought him to a hotel in Harpersville
, where he checked in under a false name and paid for his room with cash. When police returned later that morning, he had fled on foot into nearby woods. Schrenker then traveled to the storage facility where he had earlier located his motorcycle, and then rode the vehicle to a KOA Campground
in Quincy, Florida
. Without offering his name, he told the owners of the grounds that he was traveling cross country with friends, using cash to purchase a one-night tent site, firewood, and a six pack of Bud Light Lime. He was also given access to the campground's wireless internet.
On January 12, Schrenker emailed neighbor and friend Tom Britt, stating the crash was "a misunderstanding" and that he had checked into the motel because he was "embarrassed and scared" of returning home. He also said that he would likely "be gone" by the time Britt read the email. The same day, a Hamilton County Superior Court judge froze the assets of both Schrenker and his estranged wife.
at the Quincy campground. The ground's owners, Troy and Caroline Hastings, grew suspicious when the man had failed to check out by 5pm. Upon approaching Schrenker's site, Troy Hasting noticed a large red stain on the outer flap of his tent. The couple were soon contacted by the local sheriff, who asked if anything unusual had happened recently at the camp. Mr. Hastings told the officer about the suspicious camper; shortly thereafter, authorities swarmed the campground.
Investigators told the press that he had slashed his left wrist, had an additional self-inflicted wound near his elbow, and was barely conscious. US Marshal Assistant Chief Deputy Frank Chiumento said that Schrenker "wasn’t able to speak very clearly. A lot of the words that he was speaking were unintelligible, but he mentioned 'die' at least two times as we were providing medical treatment to him." He was in a "very incoherent state" and had lost massive amounts of blood by the time authorities first arrived, but paramedics were able to control his bleeding and he was Life-Flighted
to Tallahassee Memorial Hospital. Among the items found at the campground with him were knives, a laptop computer, toiletries, clothes and maps.
, the Federal Aviation Administration
, as well as Indiana, Alabama, and Florida law enforcement.
He was scheduled to go before a Florida federal judge in Pensacola
on January 22, 2009, where he faced two charges: "knowingly and willfully" causing the U.S. Coast Guard to attempt to save his life and property “when no help was needed,” and illegal destruction of an aircraft. At the hearing on January 29, Schrenker's lawyer, Thomas Keith, claimed his client is mentally incompetent and requested to the judge that he undergo a mental evaluation.
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
.
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, Schrenker attempted to proclaim his innocence and unfreeze assets stated to belong to his wife.
On June 5, 2009, Marcus Schrenker pled guilty to trying to fake his own death in a plane crash the prior January. The 38-year-old entered his plea in a Florida courtroom and admitted to intentionally crashing his small plane to try to end years of financial and legal problems. He had been ordered to pay investors hundreds of thousands of dollars and faced millions in judgements and other penalties related to an insurance company lawsuit. Schrenker faces up to 26 years in prison, $500,000 in fines, and at least $38,000 in reimbursement to the Coast Guard when he is sentenced at a later date.
On August 19, 2009, Marcus Schrenker was sentenced by federal judge Roger Vinson
to four years in prison for charges related to the crash.
Schrenker still faces nine counts of securities fraud and two counts of working as an investment banker without being registered. He faces two to eight years in prison on each count. On October 7, 2010, Schrenker was sentenced for three counts of "fraud in sale of security". His earliest possible release date is August 14, 2014.
Pseudocide
A faked death occurs when an individual leaves evidence to suggest that he or she is dead in order to mislead others. This may be done for a variety of reasons, such as to fraudulently collect insurance money or avoid capture by law enforcement for some other crime.People who fake their own deaths...
and the multi-state, three-day manhunt
Manhunt (law enforcement)
In law enforcement, a manhunt is a search for a dangerous fugitive involving the use of all available police units and technology and sometimes help from the public....
that followed. Schrenker lived and worked in Fishers
Fishers, Indiana
Fishers is a town located in Fall Creek and Delaware townships, Hamilton County, Indiana, with a population of 76,794, according to the 2010 census. A suburb of Indianapolis, Fishers has grown rapidly in recent decades: about 350 people lived there in 1963, 2,000 in 1980, and only 7,200 as recently...
, Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
.
Background
Schrenker was an investment advisor, managing pension fundPension fund
A pension fund is any plan, fund, or scheme which provides retirement income.Pension funds are important shareholders of listed and private companies. They are especially important to the stock market where large institutional investors dominate. The largest 300 pension funds collectively hold...
s worth millions of dollars. He owned two private airplanes and a $1.7 million home in the Cambridge neighborhood on Geist Reservoir near Fishers, Indiana
Fishers, Indiana
Fishers is a town located in Fall Creek and Delaware townships, Hamilton County, Indiana, with a population of 76,794, according to the 2010 census. A suburb of Indianapolis, Fishers has grown rapidly in recent decades: about 350 people lived there in 1963, 2,000 in 1980, and only 7,200 as recently...
. On October 15, 2005, Schrenker purchased a 6260 square feet (581.6 m²) home in Acworth, Georgia
Acworth, Georgia
Acworth is a city in Cobb County, Georgia, United States. As of the 2010 census, the city had a population of 20,425. Acworth is located in the foothills of the North Georgia mountains along the southeastern banks of Lake Acworth and Lake Allatoona on the Etowah River.Acworth's nickname is "The...
, for $1.65 million. Schrenker and his family lived in the neighborhood of Governors Towne Club in Acworth, Georgia, until the fall of 2007, after which they moved back to their previous neighborhood in Indiana. He owned three financial companies: Heritage Wealth Management, Heritage Insurance Services and Icon Wealth Management.
Schrenker is a graduate of Purdue University, where he met his wife Michelle Daley in the mid-1990s, and they had three children together.
A picture that Schrenker sent around to friends contained him and his model wife posing in front of a Lexus GS
Lexus GS
The Lexus GS is a series of mid-size luxury sports sedans / executive cars sold by Lexus since 1993. Designed to fill the gap between the ES and LS, and to provide Lexus with a performance sedan to compete in the mid-luxury class, three generations of the GS have been produced to date...
, a Lexus IS
Lexus IS
The Lexus IS is a series of entry-level luxury cars / compact executive cars sold by Lexus since 1998. The IS was introduced as an entry-level sport model slotted below the ES in the Lexus lineup...
, and a propeller plane.
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. On December 31, 2008, Schrenker's Indiana state financial adviser's license expired and authorities from Indiana Secretary of State Todd Rokita's Securities Division raided his home in search of evidence of securities violations. On January 6, 2009, Schrenker was charged in Hamilton County, IndianaHamilton County, Indiana
Hamilton County is a county located in the U.S. state of Indiana. Census 2010 recorded a population of 274,569. The county seat is Noblesville....
with unlawful acts by a compensated adviser and unlawful transaction by an investment adviser, and his bail
Bail
Traditionally, bail is some form of property deposited or pledged to a court to persuade it to release a suspect from jail, on the understanding that the suspect will return for trial or forfeit the bail...
was set at $4 million. On January 9, he lost $533,500 in a federal court ruling in Maryland
Maryland
Maryland is a U.S. state located in the Mid Atlantic region of the United States, bordering Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware to its east...
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. The following day, she told the authorities searching their home that her husband had been having an affair. A press release from her lawyers claims that she had no idea about Schrenker's financial dealings, and their split was solely a result of his infidelities.
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
General contractor
A general contractor is responsible for the day-to-day oversight of a construction site, management of vendors and trades, and communication of information to involved parties throughout the course of a building project.-Description:...
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.
Plane crash and manhunt
On January 10, 2009 Schrenker traveled to Harpersville, AlabamaHarpersville, Alabama
Harpersville is a town in Shelby County, Alabama, United States. At the 2000 census the population was 1,620. The small town is growing due to the growth of big business on Highway 280...
, in a pickup truck carrying a red Yamaha
Yamaha
Yamaha may refer to:* Yamaha Corporation, a Japanese company with a wide range of products and services** Yamaha Motor Company, a Japanese motorized vehicle-producing company...
motorcycle with saddlebags containing money and supplies. He returned to Indiana after placing the motorcycle in a storage facility, telling the owner he would return and retrieve the motorcycle the following Monday.
On January 11, 2009, Schrenker departed in his turboprop single-engine Piper Meridian (tail number N428DC) from an airfield in Anderson, Indiana
Anderson, Indiana
Anderson is a city in and the county seat of Madison County, Indiana, United States. It is the principal city of the Anderson, Indiana Metropolitan Statistical Area which encompasses Madison county. Anderson is the headquarters of the Church of God and home of Anderson University, which is...
, scheduled to fly to Destin
Destin, Florida
Destin is a city located in Okaloosa County, Florida. It is a principal city of the Fort Walton Beach-Crestview-Destin, Florida Metropolitan Statistical Area.Located on Florida's Emerald Coast, Destin is known for its white beaches and emerald green waters...
, Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
. Near Birmingham, Alabama
Birmingham, Alabama
Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...
, he made a distress call, telling air traffic controller
Air traffic controller
Air traffic controllers are the people who expedite and maintain a safe and orderly flow of air traffic in the global air traffic control system. The position of the air traffic controller is one that requires highly specialized skills...
s that his windshield had imploded and he was "bleeding profusely." He then set the plane to autopilot
Autopilot
An autopilot is a mechanical, electrical, or hydraulic system used to guide a vehicle without assistance from a human being. An autopilot can refer specifically to aircraft, self-steering gear for boats, or auto guidance of space craft and missiles...
and parachuted out. The plane flew on, crossing Alabama before ultimately crashing in Santa Rosa County, Florida
Santa Rosa County, Florida
Santa Rosa County is a county located in the U.S. state of Florida. According to the 2000 U.S. Census, the population was 117,743, while a July 1, 2005, estimate placed the population at 143,105, an 18% increase making it the 84th fastest growing county in the United States between 2000 and 2005. ...
. Military jets that had been dispatched to intercept Schrenker's plane discovered it in flight, with its door open and cockpit empty. They followed the plane until it crashed just north of Milton, Florida
Milton, Florida
Milton , or Milltown, because Milton had the largest mill around) is a city in Santa Rosa County, Florida, United States. The city was incorporated in 1844 and is home to Naval Air Station Whiting Field. The population was 7,045 at the 2000 census. In 2004, the population recorded by the U.S...
at about 9:20pm. The plane had flown 200 miles (321.9 km) on autopilot
Autopilot
An autopilot is a mechanical, electrical, or hydraulic system used to guide a vehicle without assistance from a human being. An autopilot can refer specifically to aircraft, self-steering gear for boats, or auto guidance of space craft and missiles...
and crashed 50 to 75 yards from a residential area. Upon inspecting the crash site, investigators discovered that there was no blood inside the plane and the windshield showed no sign of problem. On board the aircraft they found an United States atlas
Atlas
An atlas is a collection of maps; it is typically a map of Earth or a region of Earth, but there are atlases of the other planets in the Solar System. Atlases have traditionally been bound into book form, but today many atlases are in multimedia formats...
and a national campground directory, both of which had the Florida and Alabama sections torn out.
After parachuting to the ground, Schrenker made his way to a private residence in Childersburg, Alabama
Childersburg, Alabama
Childersburg is a city in Talladega county in the U.S. state of Alabama. At the 2000 census the population was 4,927. It claims a history dating back before 1540, when it was noted as a village of the Coosa Nation visited by the Spanish explorer Hernando de Soto...
, arriving around 2:30am on January 12. Appearing wet from the knees down, he told the resident he had been in a canoe
Canoe
A canoe or Canadian canoe is a small narrow boat, typically human-powered, though it may also be powered by sails or small electric or gas motors. Canoes are usually pointed at both bow and stern and are normally open on top, but can be decked over A canoe (North American English) or Canadian...
ing accident. He received a ride into town, where he made contact with the local police station. Not yet linking Schrenker to the crash, the police brought him to a hotel in Harpersville
Harpersville, Alabama
Harpersville is a town in Shelby County, Alabama, United States. At the 2000 census the population was 1,620. The small town is growing due to the growth of big business on Highway 280...
, where he checked in under a false name and paid for his room with cash. When police returned later that morning, he had fled on foot into nearby woods. Schrenker then traveled to the storage facility where he had earlier located his motorcycle, and then rode the vehicle to a KOA Campground
Kampgrounds of America
Kampgrounds of America is a franchise chain of nearly 470 campgrounds throughout North America based in Billings, Montana, USA. The current CEO of Kampgrounds of America Inc. is James D. Rogers. The President is Pat Hittmeier. - History :...
in Quincy, Florida
Quincy, Florida
Quincy is a city in Gadsden County, Florida, United States. The population was 6,982 at the 2000 census. As of 2004, the population recorded by the U.S. Census Bureau is 6,975...
. Without offering his name, he told the owners of the grounds that he was traveling cross country with friends, using cash to purchase a one-night tent site, firewood, and a six pack of Bud Light Lime. He was also given access to the campground's wireless internet.
On January 12, Schrenker emailed neighbor and friend Tom Britt, stating the crash was "a misunderstanding" and that he had checked into the motel because he was "embarrassed and scared" of returning home. He also said that he would likely "be gone" by the time Britt read the email. The same day, a Hamilton County Superior Court judge froze the assets of both Schrenker and his estranged wife.
Capture
At about 10pm on January 13, officials captured Schrenker in a pup tentTent
A tent is a shelter consisting of sheets of fabric or other material draped over or attached to a frame of poles or attached to a supporting rope. While smaller tents may be free-standing or attached to the ground, large tents are usually anchored using guy ropes tied to stakes or tent pegs...
at the Quincy campground. The ground's owners, Troy and Caroline Hastings, grew suspicious when the man had failed to check out by 5pm. Upon approaching Schrenker's site, Troy Hasting noticed a large red stain on the outer flap of his tent. The couple were soon contacted by the local sheriff, who asked if anything unusual had happened recently at the camp. Mr. Hastings told the officer about the suspicious camper; shortly thereafter, authorities swarmed the campground.
Investigators told the press that he had slashed his left wrist, had an additional self-inflicted wound near his elbow, and was barely conscious. US Marshal Assistant Chief Deputy Frank Chiumento said that Schrenker "wasn’t able to speak very clearly. A lot of the words that he was speaking were unintelligible, but he mentioned 'die' at least two times as we were providing medical treatment to him." He was in a "very incoherent state" and had lost massive amounts of blood by the time authorities first arrived, but paramedics were able to control his bleeding and he was Life-Flighted
Life Flight
Memorial Hermann Life Flight is an air medical transport service based in Houston, Texas. Life Flight flies into 12th floor of the John S. Dunn Heli-Stop atop Memorial Hermann Hospital in the Texas Medical Center. It was founded in 1976.-History:...
to Tallahassee Memorial Hospital. Among the items found at the campground with him were knives, a laptop computer, toiletries, clothes and maps.
Trials
Because Schrenker's crimes spanned a number of states, including two coastal states, and because the incident involved an aircraft, he may be prosecuted by the United States Coast GuardUnited States Coast Guard
The United States Coast Guard is a branch of the United States Armed Forces and one of the seven U.S. uniformed services. The Coast Guard is a maritime, military, multi-mission service unique among the military branches for having a maritime law enforcement mission and a federal regulatory agency...
, the Federal Aviation Administration
Federal Aviation Administration
The Federal Aviation Administration is the national aviation authority of the United States. An agency of the United States Department of Transportation, it has authority to regulate and oversee all aspects of civil aviation in the U.S...
, as well as Indiana, Alabama, and Florida law enforcement.
He was scheduled to go before a Florida federal judge in Pensacola
Pensacola
Pensacola is a city in the western part of the U.S. state of Florida.Pensacola may also refer to:* Pensacola people, a group of Native Americans* A number of places in the Florida:** Pensacola Bay** Pensacola Regional Airport...
on January 22, 2009, where he faced two charges: "knowingly and willfully" causing the U.S. Coast Guard to attempt to save his life and property “when no help was needed,” and illegal destruction of an aircraft. At the hearing on January 29, Schrenker's lawyer, Thomas Keith, claimed his client is mentally incompetent and requested to the judge that he undergo a mental evaluation.
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
Dothan, Alabama
Dothan is a city located in the southeastern corner of the US state of Alabama, situated approximately west of the Georgia state line and north of Florida. It is the seat of Houston County, with portions extending into nearby Dale County and Henry County...
.
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, Schrenker attempted to proclaim his innocence and unfreeze assets stated to belong to his wife.
On June 5, 2009, Marcus Schrenker pled guilty to trying to fake his own death in a plane crash the prior January. The 38-year-old entered his plea in a Florida courtroom and admitted to intentionally crashing his small plane to try to end years of financial and legal problems. He had been ordered to pay investors hundreds of thousands of dollars and faced millions in judgements and other penalties related to an insurance company lawsuit. Schrenker faces up to 26 years in prison, $500,000 in fines, and at least $38,000 in reimbursement to the Coast Guard when he is sentenced at a later date.
On August 19, 2009, Marcus Schrenker was sentenced by federal judge Roger Vinson
Roger Vinson
Clyde Roger Vinson is a senior federal judge of the United States District Court for the Northern District of Florida.-Life and career:...
to four years in prison for charges related to the crash.
Schrenker still faces nine counts of securities fraud and two counts of working as an investment banker without being registered. He faces two to eight years in prison on each count. On October 7, 2010, Schrenker was sentenced for three counts of "fraud in sale of security". His earliest possible release date is August 14, 2014.
External links
- Heritage Wealth's official website as it appeared in 2005, including a video by Schrenker
- Icon Wealth Management, his company.
- Google Street View of the address given in the Icon Wealth Management contact page, apparently showing Heritage Wealth Management.
- Full Text of Marcus Schrenker's E-Mail to Neighbor at Fox NewsFox News ChannelFox News Channel , often called Fox News, is a cable and satellite television news channel owned by the Fox Entertainment Group, a subsidiary of News Corporation...
- Hamilton County Inmate Booking Record