What do you do when your life doesn't go as planned? Well, of course, you get in your Piper Pawnee Brave, fly along normally for some time, right before reporting an imploded windshield and profuse bleeding to controllers, and declaring an emergency over Florida swamp land. Set the plane on autopilot 2,000 feet, open the door and jump out with your parachute. On hitting the ground, you walk up to a policeman, complete with skydiving gear and goggles and report that you've been in a canoe accident and give the officer your real driver's license before checking into a local motel with cash under a fake name, donning a "black toboggan cap" and running into the woods next to the motel.
Well, that's not what I'd do exactly. But that's what Marcus Schrenker, 38, from Indiana appears to have done. Police are looking for Schrenker now. have Schrenker in custody now may or may not have Schrenker in custody. I'm sure it has exactly zero to do with his Indianapolis firm,"Heritage Wealth Management, Inc" (not to be confused not be confused with Heritage Wealth Management, LLC, the apparently unconnected San Diego firm) or Icon Wealth Management.
Update: The timing of CREATIVE MARKETING INTERNATIONAL CORP. v. SCHRENKER et al seems relevant, no?
Update Two: Class notes from our Pawnee Brave Bailer:
Marcus Schrenker Graduated: 1989 Elem/Middle School: Wood/Pierce mjs@heritage-wealth.com www.heritage-wealth.com Updated: 04/30/2006 23:48:13 Claim to Fame: I studied too much. If only I could go back? What they're doing now: What everyone else is doing, trying to put my kids through school, pay the bills, live the American dream.
Seems Heritage was adviser to the Delta Pilots Pension Termination Opposition efforts, which back in 2006 was begging for $2 million to fight the power.
Update Three:
Coincidentally, Icon Wealth Management, the private investment company that Schrenker owns, was served a warrant on December 31st at his Cambridge home for securities fraud according to local authorities. Both his Cambridge home and offices on Fall Creek Parkway were raided and computers, laptops, and files were taken by police.
Oops!
Update 4:
CNN was reporting he was flying a Piper PA-36 (the Pawnee Brave). That seems harder to swallow than his FAA records which show he owns N531MA, a 2002 Piper PA 46-350P (a Malibu). Either he owns both, or CNN is mistaken. We're betting the latter.
Marc Schrenker Parachutes from Plane [AtGeist]
Police: Pilot made bogus distress call before plane crash [CNN]
Posted by guest , Jan 12, 2009 2:07PM
Too JFK junior, didn't read.
Posted by guest , Jan 12, 2009 2:10PM
@ 2 LOFL
Posted by guest , Jan 12, 2009 2:14PM
"Initial Meeting
Wherever you are, we come to meet you face-to-face. In fact, we make so many trips to visit our clients that we bought our own aircraft."
Can the plane crash be written off in '08, or is it an '09 item?
Posted by guest , Jan 12, 2009 2:15PM
@ 2 LOFL
Posted by Lowly Assistant , Jan 12, 2009 2:17PM
#1's up there with the best and brightest regarding spin-offs of the TL,DR crowd. Perfectly placed, well executed.
Posted by guest , Jan 12, 2009 2:19PM
Here's his pic, and more info:
http://atgeist.com/blog/marc-schrenker-crashes-plane-no-body-found/
Posted by Clown Capital , Jan 12, 2009 2:20PM
"All i wanna do is,(gunshot),(gunshot),(gunshot),(gunshot), and a (gun cock sound), (cash register ring), and take your money…"
Posted by guest , Jan 12, 2009 2:21PM
@5, can you please elaborate on "TL" and "DR". Sorry, just trying to get a sense of the lingo on here.
Posted by guest , Jan 12, 2009 2:21PM
WTF was he flying a cropduster for? Or was he planning yo do some crapdusting?
Posted by guest , Jan 12, 2009 2:24PM
His alibi brillance certainly matched his investing style...
Posted by guest , Jan 12, 2009 2:26PM
Darn those dastardly short sellers!
Darn them to h@#! C is going down again! Where's COX from SEC when you need him? WE NEED A BAN ON SHORTS NOW!!!
Posted by guest , Jan 12, 2009 2:26PM
This is a text book example of failure to do due dilligence on how to escape. MadeOff is still No.1.
Posted by Clown Capital , Jan 12, 2009 2:27PM
@8
TL = "too long" ; DR = "didn't read"
There's usually some comedic variation of that on every posting board on DB...
Posted by StillNoCouch , Jan 12, 2009 2:29PM
What amazes me is the fact that he had even a modicum of a sense that he could get away with it.
My God, you don't have to be Monk to figure out that there's no body ... duh.
Just how stoned was this fool ?
Posted by guest , Jan 12, 2009 2:32PM
@5 "Too Long" and "Didn't Read"
@9 crapdusting...now there is a ponzi scheme waiting to happen
@11 go back to Yahoo
@12 yeah because mailing a couple of mil in "gifts" was much more brilliant
Posted by guest , Jan 12, 2009 2:34PM
Heritage Site:
"It's not until we know you and understand your situation that we can begin to develop your customized solution. That's why every relationship we have, regardless of the client's home address, begins with a face-to-face meeting and a handshake." and then kiss your money good-bye...
Posted by guest , Jan 12, 2009 2:37PM
This from the Heritage Website:
"There is a direct correlation between the amount of research that is performed and the level of volatility, expense efficiency, and realized returns in a portfolio"
Yup... that's pretty much the dumbest sentence ever written. Anyone that gets burned by this guy deserved it.
Posted by guest , Jan 12, 2009 2:39PM
"Can the plane crash be written off in '08, or is it an '09 item?"
Depends. Which side of the international date line did the plane land on?
Posted by guest , Jan 12, 2009 2:42PM
Cohones! Even slithery Made-Off couldn't pull something this one off
Posted by guest , Jan 12, 2009 2:43PM
@17, there's a good point somewhere in there, but that's a ridiculous statement.
Posted by guest , Jan 12, 2009 2:43PM
A Piper PA-46 is a Malibu not a Pawnee Brave. A Malibu is a single engine pressurized aircraft that costs close to $1 million. It is the Cadillac of the single engine fleet. A Pawnee Brave (a PA-36) is single engine crop duster.
Fairly significant difference.
Posted by guest , Jan 12, 2009 2:44PM
I'm pretty sure it was due to his firm's high levels of expsoure to Sham-Wow and associated entities:
http://www.cnbc.com/id/28623175
Posted by guest , Jan 12, 2009 2:47PM
wasn't this guy in the scorpions?
Posted by guest , Jan 12, 2009 2:48PM
He also owned something called "Icon Wealth Mangement" www.iconwm.com
Posted by guest , Jan 12, 2009 2:51PM
No imagination - should have invested in an auto pilot and taken it out over the water.
Posted by guest , Jan 12, 2009 2:52PM
@21 You mean the Lexus of the single engine fleet, right?
Posted by guest , Jan 12, 2009 2:53PM
If you look at the flight path he almost made it. his destination was right on the ocean. He was going for it but the wind or bad fuel management or something got in his way. Crash empty plane into the Gulf and suddenly his body not being there doesn't seem so strange. Esp. after declaring an emergency he'd be expected to put the autopilot on to deal with the bleeding, then he passes out from blood loss. Plane flies on autopilot till it runs out of fuel. I'll bet they find those tanks are bone dry. So close!
Posted by guest , Jan 12, 2009 2:56PM
Lexus would be more apropos for sure.
He did have an autopilot. That said he certainly lacked imagination.
Posted by guest , Jan 12, 2009 2:57PM
Ponzi, Schmonzi. What would Fonzarelli do?
Posted by guest , Jan 12, 2009 2:58PM
@15. No. MadeOff is number 1 because he made bail. In the Ponzi business the goal is live large as long as possible. Bernie is easily one of the sharpest guys around. No one caught him. It was the market.
Posted by guest , Jan 12, 2009 2:58PM
@26 Nice Wire Reference
Posted by guest , Jan 12, 2009 3:00PM
@27 exactly. Almost perfect.
Posted by guest , Jan 12, 2009 3:02PM
Lexus would be more apropos for sure.
He did have an autopilot. That said he certainly lacked imagination.
Posted by guest , Jan 12, 2009 3:05PM
They got him!
Police have found Schrenker and currently have him in custody. more from fox10 news
Posted by guest , Jan 12, 2009 3:06PM
@34, he was caught in a hotel room watching CNBC and posting on DB.
Posted by guest , Jan 12, 2009 3:09PM
Rock you like a HURRICANE!!!!!!
Posted by guest , Jan 12, 2009 3:12PM
..and NASDAQ ees effed up.
Posted by guest , Jan 12, 2009 3:21PM
Schrenker got to make his statutory one telephone call. Sources close to the scene siad he spent 15 minutes talking to Bernie MadeOff.
Posted by guest , Jan 12, 2009 3:23PM
I hope all these rich loosers that are stealing money from people here in Indy and other states get what's coming to them. I've often wondered how these people can have the kind of money they have...either a lot of debt or they are stealing. My Aunt is a Dr. and still lives in a home that is 230,000 and doesn't live in these million $$$$$$ homes. WTF is going on people?
Posted by guest , Jan 12, 2009 3:24PM
I hope all these rich loosers that are stealing money from people here in Indy and other states get what's coming to them. I've often wondered how these people can have the kind of money they have...either a lot of debt or they are stealing. My Aunt is a Dr. and still lives in a home that is 230,000 and doesn't live in these million $$$$$$ homes. WTF is going on people?
Posted by guest , Jan 12, 2009 3:26PM
I hope all these rich loosers that are stealing money from people here in Indy and other states get what's coming to them. I've often wondered how these people can have the kind of money they have...either a lot of debt or they are stealing. My Aunt is a Dr. and still lives in a home that is 230,000 and doesn't live in these million $$$$$$ homes. WTF is going on people?
Posted by guest , Jan 12, 2009 3:26PM
I hope all these rich loosers that are stealing money from people here in Indy and other states get what's coming to them. I've often wondered how these people can have the kind of money they have...either a lot of debt or they are stealing. My Aunt is a Dr. and still lives in a home that is 230,000 and doesn't live in these million $$$$$$ homes. WTF is going on people?
Posted by guest , Jan 12, 2009 3:26PM
"Q: How do you charge for your services?
A: We use a standard 1% of assets under management fee. This is billed on a quarterly basis that is reflected in a .0025% deduction from your account of choice. We will send you an invoice each quarter and at year-end documenting these deductions."
Posted by guest , Jan 12, 2009 3:31PM
@39-42 - Learn how to spell "loser".
Loser.
Way to go Colts.
Posted by guest , Jan 12, 2009 3:35PM
Marcus Schrenker is too stupid to run a ponzi scheme.
Posted by guest , Jan 12, 2009 3:36PM
"Q: How do you charge for your services?
A: We use a standard 1% of assets under management fee. This is billed on a quarterly basis that is reflected in a .0025% deduction from your account of choice. We will send you an invoice each quarter and at year-end documenting these deductions."
Posted by guest , Jan 12, 2009 3:40PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:40PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:40PM
He was a recently ordered by a federal court in Maryland to pay a $533,564 to OM Financial Life Insurance Company.
http://blog.al.com/spotnews/2009/01/pilots_company_faced_half_mill.html
Posted by guest , Jan 12, 2009 3:40PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:42PM
That fox channel 10 has removed the part about him being in custody from their website now. Just says he is alive.
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:45PM
haha #11 said he wants more COX
@ 39, 40, 41, 42 spammer - learn how to spell LOSER you retard. you know, what people have probably been calling you all your life.
-Shakes
Posted by guest , Jan 12, 2009 3:48PM
Giving his real driver's license as an ID to the police? Is he going to claim an insanity defense or something?
Posted by guest , Jan 12, 2009 3:52PM
You know, he totally stole that idea from a Robert Heinlein novel, except that the guy in the novel was smart enough to SHUT THE DOOR.
Of course, with the jets visually confirming that the plane was empty, it wasn't going to work anyway. If it hadn't been for that, the plan might have worked up until the knucklehead ID'd himself to a cop. Somewhere D.B. Cooper is rolling in his grave.
Posted by guest , Jan 12, 2009 3:57PM
I dunno - I'm going along with the theory that he was trying to hit the Gulf and missed.
Dumbass.
Posted by guest , Jan 12, 2009 3:58PM
Did this shitbag mail all of his Rolexes to his family before the dirty deed?
Posted by guest , Jan 12, 2009 4:03PM
@59
Not shutting the door might be the reason the plane didn't make it to the Gulf. Still can't believe the idiot showed a real id to the police.
Posted by guest , Jan 12, 2009 4:05PM
@59,
Good one!!!
--D.B. Cooper
Posted by guest , Jan 12, 2009 4:12PM
Too DB didn't Cooper
Posted by guest , Jan 12, 2009 4:32PM
You guys are missing the important question:
Does he have an egret (or other waterfowl) on his business card?
Posted by guest , Jan 12, 2009 4:48PM
I get my best investment advice from airplane pilot websites:
http://www.airlinepilotforums.com/hangar-talk/828-do-pilots-really-know-how-invest-2.html
Posted by guest , Jan 12, 2009 5:43PM
Would you sacrifice a fingertip for freedom? If so, then a fake kidnapping would have been an option. But, this dude seems a bit short on execution, so all sorts of things could have gone wrong.
Posted by guest , Jan 12, 2009 5:54PM
@66, WOW. Schrenker's posting to that site is possibly more retarded than @47. Who would trust their money (or their life in the backseat of a plane) with this guy?
Posted by guest , Jan 12, 2009 6:19PM
Bernie doesn't have the record for the largest ponzi scheme. Of course that record is held by a Roosevelt... Frank! And the scheme?
*** Social Security ***
Wait til the American public finds out about that one.
http://www.evilesq.com
Posted by guest , Jan 12, 2009 6:50PM
I dunno, last I checked .0025% deducted quarterly didn't add up to 1% annually -maybe he shoulda just left of the %.
Posted by guest , Jan 12, 2009 7:47PM
He probably expected plane to reach some miles out into the Gulf of Mexico before crashing making it very difficult to recover any possible evidence if any could even be recovered from whatever depths it might have sunk. What little floating debris would be scattered by wind and current. Missing body wouldn't have been much of a surprise either given marine life, etc. Plan might have had a reasonable shot at working.... Ooops, slight miscalculation on the fuel consumption rate and now they have the whole plane intact. Doh!
Bet there was a big life insurance policy payable to the wife...
Won't be surprised if it later comes to light she knew more about what he was planning.
He probably didn't anticipate military coming up for look see in this post 9/11 era. Re. @59 shutting door comment; probably impossible to stay on wing long enough to shut & lock door before getting swept off given windspeeds this turbo prop cruises at.
Posted by guest , Jan 12, 2009 8:16PM
@72
Perhaps he jumped out the airstair doors on the Malibu. Those would be impossible to close, but could be easier to open in mid-air than the pilot door over the wing.
Notice that in the douchebag's picture with his wife the airstair doors are open, right behind his head. A better picture would have those doors closed. But hey, that's part of the luxury of the Malibu.
Posted by guest , Jan 12, 2009 8:46PM
WKRG TV has a video posted "less than three weeks ago" on youtube that shows Schrenker stunt flying under a highway bridge in the Bahamas.
http://www.wkrg.com/caught_on_camera/article/missing_pilots_daredevil_stunt/22572/
Posted by guest , Jan 12, 2009 9:14PM
Recovered from the plane was a recording of "Suicide Is Painless".
Posted by guest , Jan 13, 2009 10:12AM
The status quo is simply not good enough.
Posted by guest , Jan 14, 2009 12:18AM
Had he not walked up to the cop to go to the hotel, or told the storage owners his REAL name, AND if the plane would have made it to the gulf..he wins. He would have had nothing, but his freedom...and THAT is worth all the money in the world.
Posted by guest , Jan 14, 2009 9:44AM
Has Michelle hit the market yet? She cleans up well.
Don't know how she would do with a guy that told the truth, made money without stealing, and didn't play in an 80's hair band.
Definitely leaving Indian-noplace.
Posted by Carlos , Jan 17, 2009 7:24PM
Where was he going on the Harley, to Church to repent his bad deeds ???