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 06.27.16

Airborne 06.28.16

Airborne 06.29.16

Airborne 06.30.16

Airborne 06.24.16

Airborne Hi-Def On YouTube

Airborne 06.27.16

Airborne 06.28.16

Airborne 06.29.16

Airborne 06.30.16

Airborne 06.24.16

AEA2016 LIVE Aero-TV: 04/27-0830ET, 04/28-1400ET, 04/29-1100ET

Sun 'n Fun 2016 Innovation Preview on Vimeo!

Sun 'n Fun 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 06.29.16: SWA Delays Max, McConnell OKs B29-Doc, AAL Trashes Cameras

Also: Flytenow V Supreme Ct, Electric eSpyder, F-35 Adir, IL AirShow, NJ AvTax, FAI Young Artist, Unregistered Airplane To survive in the airline business it is sometimes necessary>[...]

AD: Saab AB, Saab Aeronautics

AD NUMBER: 2016-13-06 PRODUCT: Certain Saab AB, Saab Aeronautics Model 340A (SAAB/SF340A) and SAAB 340B airplanes.>[...]

AD: Airbus Helicopters

AD NUMBER: 2016-13-07 PRODUCT: Airbus Helicopters Model AS365 N3 helicopters.>[...]

ANN's Daily Aero-Linx (06.30.16)

FAA Airworthiness Certificates Overview An airworthiness certificate is an FAA document which grants authorization to operate an aircraft in flight.>[...]

ANN's Daily Aero-Term (06.30.16): Terminal Area

A general term used to describe airspace in which approach control service or airport traffic control service is provided.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

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