Money Manager Who Staged Death Pleads Guilty to Fraud

Marcus Schrenker, an Indiana money manager who faked his own death in a plane crash last year, has pleaded guilty to securities fraud for operating an investment scam that left his victims with more than $20 million in losses, the Associated Press reported. Schrenker was arrested in January of last year, the A.P. said, two days after he put his airplane on autopilot and bailed out in an attempt to escape from his financial problems. He was sentenced to four years in prison on charges related to that crash, the A.P. said, and now faces a 10-year prison sentence for his actual investment scam. Meanwhile, theA.P. noted, Schrenker’s former wife – who filed for divorce shortly before the plane-crash stunt – was scheduled to appear in the cable television show “Who the (Bleep) Did I Marry?” the same day her ex pleaded guilty to his crimes.