Schrenker girlfriend testifies on behalf of wife

Michelle Schrenker, center
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Chris Proffitt/Eyewitness News

Hamilton County - The saga of a Geist pilot accused of bailing out of an airplane over Alabama moved back to an Indiana courtroom Friday.

Marcus Schrenker's wife Michelle appeared in Hamilton County court. She battled the state over control of her frozen bank account.

With her husband in jail, Michelle Schrenker entered court to stop the state's attempt to permanently freeze her assets. Refusing to answer questions and covering her face, the wife of the Fishers investment manager who parachuted out of his plane, letting it crash in Florida, had an unlikely ally in court: her husband's self-proclaimed girlfriend, Kelly Baker.

Baker testified on Michelle Schrenker's behalf that Marcus Schrenker spent investors' money lavishly on her. But attorneys for the secretary of state's securities commission paint another picture of Michelle Schrenker - the chief financial officer of her husband's investment companies who knowingly spent tens of thousands of dollars from defrauded investors.

"I do not consider Mrs. Schrenker either a victim or a guilty party in this at this time. I think the evidence will drive that conclusion," said Todd Rokita, secretary of state.

One of those investors is Bill Black. He says he lost thousands of dollars to Marcus Schrenker, but he defended Michelle Schrenker.

"She had no idea what was going on and as a matter of fact she was a victim worse than the investors," Black said.

With the judge ending the hearing without rendering a decision, it's clear the state is building a wide-ranging case against Marcus and Michelle Schrenker on behalf of angry investors who lost fortunes.

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