Schrenker in court over child support
Chris Proffitt/Eyewitness News
Hamilton County - Convicted Geist money manager Marcus Schrenker was back in court just days after he was sentenced to ten years in prison. This time, Schrenker was in a courtroom to contest his child support payments. What came out of his testimony could be several chapters in the book offers he says have been pouring in.
It was the sort of testimony that Marcus Schrenker would have given at his criminal trial had he not pleaded guilty. Yet he was back in court after getting ten years in prison last week, this time to contest the child support he's been ordered to pay his soon-to-be-ex-wife Michelle.
Schrenker claims he never knew about a February hearing ordering him to pay $691 per week in child support. He and Michelle Schrenker have three children together.
"He does not have the ability and cannot be forced to pay child support while he's incarcerated," said Erin Connell, Schrenker's attorney.
Schrenker's attorneys argued that he has no money. They also argued for visitation rights with his children while Schrenker serves out his term.
On the stand for over an hour, the former money manager detailed a painful separation from his three children. It was testimony typical in a child support hearing, but it soon veered 360 degrees - much like Schrenker's once-famous air acrobatic stunts.
In letters to his wife while in jail, Schrenker details over $1 million stashed in hidden off-shore accounts, proposed lucrative book and movie deals about his life and circumstances surrounding his ill-fated attempt to fake his death in a plane crash.
100 pounds of gold
The most interesting nugget has to do with gold. Schrenker wrote his wife that he'd attached over 100 pounds of gold to his body when he parachuted from his plane over Alabama. According to Schrenker, that gold is now resting at the bottom of a river where he landed.
That river Schrenker refers to is likely the Coosa River near Childersburg, Alabama, and if true, the sunken gold would be worth over $2.1 million.
"Is it still there?" the attorney asked him.
"It probably won't be after today," he replied.
"I think that the letters Marcus wrote were probably a very desperate time while he was incarcerated to the woman he loved and was married to for 15 years," said Connell.
The hearing in the case was continued. Schrenker did say that a California author is writing a book about his life with that money going to his children. He still has to pay Indiana investors over $633,000.
Another point of contention came when Michelle Schrenker's attorney pointed out to Marcus that in another letter, he stated there was over $1 million in offshore accounts for her and the children.
On cross examination, Marcus claimed that Michelle knew where that money was because she was the chief financial officer of his company. "She knew everything," Schrenker said. "I didn't know what I got paid each week because she did it."
Michelle Schrenker denies any knowledge of offshore accounts, or of her husband's wrongdoing.
Marcus Schrenker wants to be able to see his children. Michelle Schrenker has blocked his telephone number from the jail on her phone and the children's phones. Her attorneys argue that Marcus should not see his children until he is released from jail.