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

Monday

Tuesday

Wednesday

Thursday

Friday

Airborne On ANN

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Airborne Hi-Def On YouTube

Airborne 08.29.16

Airborne 08.30.16

Airborne 08.24.16

Airborne 08.25.16

Airborne 08.26.16

Tweet Us The Coolest Things You See @OSH16!
#OSH16Coolest!

It's Alive!: AirVenture 2016 Innovation Preview on Vimeo!

It's Alive!: AirVenture 2016 Innovation Preview on YouTube!

 

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

Airborne 08.26.16: Citation Longitude Update, Falcon 9 Display, N Shore Heli Rte

Also: Aerosim Scholarship, Santa Monica Nonsense, Marine One, UAV Developer Kit, FAA Penalty, F-35 Weapons Test, Coastal Helicopters The Cessna Citation Longitude moves closer to i>[...]

AeroSports Update: European Aerobatic Champion Determined

Aerobatics Legend, Mikhail Mamistov, Takes Record Fifth FAI European Aerobatic Championship The World Air Sports Federation (FAI) European Aerobatic Championship (EAC) competition >[...]

Aero-News: Quote of the Day (08.29.16)

"We, as an industry, can do better... and while its not an infraction on the scale of those we've documented recently with Icon and other bad actors, it apparently created enough d>[...]

Cheesy--Or Just Plain Dishonest? FlyQ Email Suggests ForeFlight Offer--But Isn't

Recent E-Mailing Suggests One Product... But Is Actually Something Else Altogether ANN has made much of the fact that we, as a community, need to be able to depend on one another a>[...]

Another Tough Weekend For Airshows... Two Pilots Lost

Accidents in Oregon and China Take Pilot's Lives It's been a lousy weekend to be an aviation journalist as we document the tragic loss of two well-known pilots in two separate airs>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2016 Web Development & Design by Pauli Systems, LC