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Schrenker ordered to pay up for financial bilking

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By Angye Morrison

According to Indystar.com, Marcus Schrenker, the Indiana financial adviser who allegedly attempted to fake his own death by crashing his plane in Milton, has been ordered to pay thousands of dollars in fines and restitution.

Schrenker is also accused of defrauding clients. The article reported there was overwhelming evidence that Schrenker had “forged signatures on annuity applications, failed to tell clients about early withdrawal penalties and doctored documents and lied to cover up his wrongdoing.”

Schrenker has been ordered to pay $304,000 to bilked investors and $280,000 to the state.

Schrenker parachuted from his plane while over southern Alabama, leaving the plane set on autopilot. The plane crashed near Milton.

Schrenker was later found at a KOA campground in Chattahoochee. He had attempted to slit his wrists to commit suicide.

Charges stemming from the plane crash are pending. He is currently being held at a federal detention center in Tallahassee.