Money Manager Crook Who Faked Death Gets 10 Years

Marcus Schrenker jailed for securities fraud
By Rob Quinn,  Newser Staff
Posted Oct 8, 2010 1:20 AM CDT
Marcus Schrenker poses for his mug shot.   (AP Photo/Hamilton County Sheriff Office)
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(Newser) – An Indiana money manager who scammed his friends and then tried to fake his own death in a plane crash has been sentenced to 10 years in a state prison for fraud. Marcus Schrenker will serve that sentence consecutively with a 4-year federal sentence he received last year for parachuting out of his small plane to leave it crash in Florida, AP reports.

Schrenker, who pleaded for leniency and told the court he suffered from bipolar disorder and an addiction to painkillers, was also ordered to pay $600,000 in restitution to victims he had persuaded to invest in a non-existent foreign currency fund. One victim,who described himself as a close friend of Schrenker, told the court that the money manager had stolen $15,000 intended for his children's college fund.

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