Lawyer: Schrenker Mentally Unfit To Stand Trial For Fraud, Fake Distress Call | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

AMA Drone Report

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday

Airborne-Thursday

Airborne-Friday

Airborne-Unmanned w/AUVSI

Airborne On ANN

AMA 09.21.17

Airborne 09.18.17

Airborne 09.19.17

Airborne 09.20.17

Airborne 09.21.17

Airborne 09.22.17

Airborne-Unmanned 09.19.17

Airborne-YouTube

AMA 09.21.17

Airborne 09.18.17

Airborne 09.19.17

Airborne 09.20.17

Airborne 09.21.17

Airborne 09.22.17

Airborne-Unmanned 09.19.17

NEW!!! 2017 AirVenture Innovation Preview -- YouTube Presentation / Vimeo Presentation

Fri, Jan 23, 2009

Lawyer: Schrenker Mentally Unfit To Stand Trial For Fraud, Fake Distress Call

Court Orders Bailout Pilot To Undergo Psych Evaluation

On Thursday, 38-year-old Indiana investment advisor Marcus Schrenker was in federal court in Pensacola, FL to enter a plea of not guilty to charges he tried to fake his own death, sent his unoccupied airplane on autopilot to crash in Florida, and originated a false distress call before bailing out over Alabama.

Schrenker's attorney told the court his client is not mentally competent to stand trial. Judge Roger Vinson ordered Schrenker sent for psychiatric evaluation in Miami as the next step.

Meanwhile, back at the Indiana Department of Insurance, investors turned out to tell Judge Doug Webber how Schrenker forged signatures on annuity applications, sold insurance in states where he wasn't licensed, failed to disclose early withdrawal penalties to customers, altered documents and lied to cover it all up.

The Fishers Star reports that after it was all over, Judge Doug Webber told investigators, "You have proved that he engaged in a course of conduct in which there has been massive misrepresentation by him or Heritage Wealth Management. The evidence is overwhelming."

With that, the judge ordered the revocation of the insurance licenses of both Schrenker and his company. State regulators want Schrenker fined $270,000, and ordered to pay another $320K in restitution.

FMI: www.usdoj.gov

Advertisement

More News

RFP: ANN Seeking New Site/Facility For Major Studio Upgrade

It's Official: Aggressive Upgrades For New Airborne Programs WILL Require New Digs It's been in development for years, but we're getting to a point where we think we can pull off s>[...]

Airborne-Unmanned 09.19.17: FAA OKs FL Drone Ops, ICAO Registry?, No Pot Drones

Also: FAA Reauthorization, Medical Drone Transport, USMC Quadcopters, Canister Launched UAS, Atlas Dynamics Airborne, primarily based in Jacksonville, FL is starting to recover fro>[...]

AMA Drone Report 09.21.17: AMA Expo West, Parrot Mambo, No Drone Pot Delivery

Also: Drone Injury Study, Cook County-IL, Northeastern Drone Society, Propel Star Wars Drones, GA UAS Integration One of the pinnacle model aviation events of the year is coming up>[...]

Airborne 09.21.17: Pilot Runs 4 Senate, Seaplane Base Hit, Sonaca 200

Also: Mitchell Airport, AMA, Plane v Elk, Ariane 6, Lakeville Airport, Alaska Airlines Airshow and test pilot Bob Bishop is launching a run for the United States Senate in 2018. He>[...]

AMA Drone Report 09.14.17: MultiGP NatÂ’l Championship, GDU O2, ICAO Registration

Also: AMA Monitoring Volunteer Drones, Aerix DaVinci, FAA ReAuthorization, TobyRich, ADR Test Pilots The 2017 MultiGP National Drone Racing Championship are being held now through >[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2017 Web Development & Design by Pauli Systems, LC