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Tue, Jun 29, 2010

Schrenker's Assets Auctioned In Indianapolis

Former Financier Attempted To Fake His Own Death By Intentionally Crashing An Aircraft

The assets of a former high-flying (literally) financier from Indiana who parachuted from his plane in an attempt to fake his own death were put up for auction over the weekend in Indianapolis.

Marcus Schrenker's boat, as well as the motorcycle he used after jumping from his plane, were both on the block. Schrenker was convicted of bailing out of his airplane over Alabama which eventually ran out of fuel and went down in a swamp in Florida. He had stashed a motorcycle in a shed near his intended bailout point, and eluded authorities for several days before being captured.

Schrenker's boat, reportedly worth about $68,000 according to the Associated Press, sold for $28,000. Hundreds of people turned out to see what Schrenker had owned.

Schrenker is serving 4 years in prison for intentionally crashing the airplane. He has pleaded not guilty to charges of bilking investors out of about $1.5 million. That trial is scheduled to start in the fall.

FMI: www.insd.uscourts.gov

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