Schrenker finances will take time to sort out
Hamilton County - It's unclear when Marcus Schrenker will be brought back to Indiana to face charges. He already faces million of dollars in judgements and claims against his Fishers investment companies.
Authorities think it could take years to sort out the financial mess that investment manager Marcus Schrenker allegedly created, culminating in an apparent attempt to fake his death this week in a run from personal and financial ruin. A maze of legal claims were mounting against the daredevil pilot who lived lavishly in a $4 million Geist home.
According to a review of documents by the Associated Press, Schrenker faced nearly $9 million and possibly more in potential and actual court judgments and legal claims tied to his investment management companies. State investigators froze Schrenker's and his wife Michelle's assets after raiding the couple's home and Schrenker's Icon Group office in December.
The 38-year-old faces two felony counts in Hamilton County stemming from his business dealings. Angry investors accuse him of stealing potentially millions in savings they entrusted to Schrenker.
"I fully expect and suspect that additional, perhaps even more serious charges get filed," said Todd Rokita, Indiana secretary of state.
Schrenker was also mired in personal problems. His wife recently filed for divorce, telling investigators that he'd had an affair.
Investigators searched a Geist area condo that Schrenker was said to have shared with his girlfriend for nearly a year. No one answered the door of the condo in what is likely another attempt by people close to Schrenker to now distance themselves from the once high-flying financier.
Schrenker could eventually be forced to pay $1 million in fines and restitution after state authorities accused him in January 2008 of swindling $250,000 from investors.