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
Money Manager Crook Who Faked Death Gets 10 Years
Marcus Schrenker poses for his mug shot.   (AP Photo/Hamilton County Sheriff Office)

(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.

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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. (Read more Marcus Schrenker stories.)

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