State sells schrenker's stunt plane

Indiana officials have sold a stunt plane owned by Marcus Schrenker, the former money manager who's serving a 14-year prison term for bilking investors.

Secretary of State Connie Lawson says Schrenker's plane recently sold for $264,000 and represents the end of the office's efforts to close the case.

She says a total of $306,000 raised from the sale of Schrenker's assets has been given to his victims.

Schrenker was arrested at a Florida campground in January 2009, two days after he bailed out of another plane in a bid to fake his death to escape mounting financial problems.

The former Fshers resident pleaded guilty in 2010 to securities fraud charges.

A court report found Schrenker owed $3.9 million dollars to investors and $9 million to creditors.


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