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U.S. Marshals found Marcus Schrenker in a tent Tuesday at this KOA campground in Chattahoochee, Fla., and took him into custody.
Mr. Schrenker couldn't be reached for a comment on Wednesday.
It's been an eventful week for Mr. Schrenker, 38 years old. U.S. marshals allege that he staged a crash in one of his private planes Sunday, then parachuted to rural Alabama, reclaimed a motorcycle he had stashed there and went on the lam.
Days before, Mr. Schrenker's McCordsville, Ind., home was searched by police and investigators for the Indiana Securities Division. His wife of 13 years, Michelle Schrenker, filed for divorce. And a federal judge in Baltimore entered a $533,563 judgment against one of his companies, Heritage Wealth Management Inc., in a lawsuit filed by a life insurance company whose policies he had marketed.
Mr. Schrenker faces fraud charges filed Tuesday in Superior Court of Hamilton County, Ind., on behalf of the state Securities Division. The complaint alleges he knowingly deceived clients by not informing them his registration as an investment adviser was terminated at the end of last year, and that he conducted business as an adviser even though his registration had lapsed.
The court granted the Securities Division, part of Indiana's Secretary of State office, authority to freeze the assets of Mr. Schrenker; his wife; and his three businesses, pending a hearing this month.
The division began an investigation of Mr. Schrenker in mid-December. That led to the Dec. 31 search of his home for computers, notes and documents related to his three companies: Heritage Wealth, Heritage Insurance Services Inc. and Icon Wealth Management Inc.
Mr. Schrenker grew up in Indiana and attended Merrillville High School and Purdue University. He met his wife in college, according to neighbor Joe Weingarten, a retired engineer. The couple has three children and live in a house on the water.
Mr. Schrenker "is very charming, very family-oriented," said Mr. Weingarten, who worked with Mr. Schrenker on a neighborhood committee but isn't a client.
Some of Mr. Schrenker's troubles began to come to light in mid-2006, when he offered to help a group of active and retired Delta Air Lines Inc. pilots fight plans by the carrier, then in bankruptcy-court protection, to terminate their pension plans. Because he was scheduled to testify before the court that the plan shouldn't be terminated, Delta lawyers in New York interviewed him as a witness in August of that year, two days before his scheduled appearance in bankruptcy court.
The lawyers, according to people familiar with the deposition, spent days running background checks on Mr. Schrenker and unearthed accusations of financial misconduct by clients, tax problems and run-ins with police. In the end, Mr. Schrenker failed to show up for his scheduled testimony.
Several Delta pilots and other professionals in the Atlanta area had invested with Mr. Schrenker. After he failed to show up for his testimony, most of the pilots grew wary and eventually recouped their funds.
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