Airplane Bailout Banker Charged by Feds - NBC New York

Airplane Bailout Banker Charged by Feds

Federal officials charged the money manager for faking distress call



    Airplane Bailout Banker Charged by Feds
    The Florida campground where law enforcement captured fugitive investor Marcus Schrenker, who allegedly called in a false distress call from his private plane before parachuting out and allowing it to crash.

    Marcus Schrenker left his troubled money management business with a parachute, but it wasn't a golden one.

    Federal authorities have charged the Indiana money manager with faking a distress call from the air and intentionally wrecking his plane.

    U.S. Marshals spokesman Scott Wilson said the charges were filed against 38-year-old Marcus Schrenker Wednesday afternoon.

    He says Schrenker is expected to appear in a Florida court later this week.

    Authorities tracked Schrenker to a campground in north Florida Tuesday night after a three-day run.

    They suspect he parachuted from his small plane in Alabama, then left it on autopilot to crash in Florida as part of a bid to stage his death amid mounting personal and professional problems.