Missing pilot a smooth talker, investors say
Ξ January 14th, 2009 | → | ∇ Uncategorized |
(CNN) — Missing Indiana financial manager and pilot Marcus Schrenker is a smooth talker who promised investors steady returns on their money, said two former commercial pilots named in an Indiana Department of Insurance complaint.
Marcus Schrenker’s companies were under investigation by the Indiana Securities Division.
As police hunt for Schrenker, who they believe attempted to fake his death by bailing out of his plane over Alabama, those who knew him shared stories of a charming man with lofty promises.
Joe Mazzone and Charles Kinney said they trusted Schrenker because he came highly recommended by other pilots.
"It was all word of mouth, and when you’re a pilot, you trust. That’s what you do and what you’re used to doing," said Mazzone, 57, of Auburn, Alabama. "His modus operandi is, he flies into your city dressed up in a thousand-dollar suit and sits down with you, buys you lunch, and the next thing you know, he has you on his side, and you move your money to his Heritage Wealth Management."
A judge in Indiana froze Schrenker’s assets at the request of investigators looking into his business dealings. The order also applies to Schrenker’s wife, who was seeking a divorce, and his three companies: Heritage Wealth Management, Heritage Insurance Services and Icon Wealth management. Those companies are "the subjects of an active investigation by the Indiana Securities Division," said Jim Gavin, spokesman for the Indiana secretary of state.
"You’d think nothing would surprise you any more," Jim Atterholt of the Indiana Department of Insurance said Tuesday. "We’d be less than honest if we didn’t tell you this was a shock and anybody who’s going to jump out of an airplane to avoid one of our hearings next week … it’s certainly unusual to hear."
Schrenker, 38, took off from Indiana for Destin, Florida, on Sunday night. He told air traffic controllers that his windshield had imploded. Then, authorities believe, he parachuted out of the aircraft, which crashed in East Milton, Florida.
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Schrenker approached a home in Childersburg, Alabama, telling residents he had been in a canoeing accident. Police, who identified him using his pilot’s license, took him to a hotel in nearby Harpersville. But after hearing about the crash, they found that he had used a fictitious name to check in and was gone.
Authorities say they later found that he had stashed a motorcycle in a storage facility in Harpersville, again using a fake name and saying he would retrieve it Monday. Police think he used it to leave town.
"Hundreds of thousands of dollars are at stake — in upwards of a million dollars, potentially more," Atterholt said. "We’ve had folks calling since
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on January 29th, 2009 at 11:16 am
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