Legal Digest -Ex-money manager to plead guilty to Indiana fraud
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Ex-money manager to plead guilty to Indiana fraud
Legal Business | 2010/08/16 03:20
pA former money manager convicted of trying to fake his own death in a Florida plane crash has agreed to plead guilty to securities fraud charges in Indiana./ppMarcus Schrenker could face 10 years in prison in exchange for pleading guilty to five of 11 counts under a proposed plea agreement with Hamilton County prosecutors./ppHe could also be required to pay more than $600,000 in restitution. Schrenker is accused of bilking friends, family members and other investors of more than $1 million./ppA hearing on the deal is set for Sept. 15 in Hamilton Superior Court in the Indianapolis suburb of Noblesville. A judge still has to accept Schrenker's plea before the agreement can take effect./ppThe only remaining dispute is whether Schrenker should serve his Indiana sentence at the same time as a four-year federal sentence out of Florida, Jeff Wehmueller, administrative chief deputy prosecutor in Hamilton County, said Thursday.
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