Missing Indiana Pilot Charged With Financial Fraud - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Missing Indiana Pilot Charged With Financial Fraud

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NOBLESVILLE, Ind. (AP) - Authorities in Indiana are charging a pilot who may have tried to fake his own death with financial fraud.

Prosecutors say Marcus Schrenker acted as a financial adviser and made business transactions after his state license expired on Dec. 31.

Investigators have been probing Schrenker's financial management businesses for possible securities violations, and searched his home and offices in the days before Sunday's crash. His wife also filed for divorce, and a judge in Maryland entered a half-million-dollar judgment against him.

Authorities don't know where Schrenker is, but believe he bailed out of his plane in Alabama and put it on autopilot to crash in Florida. They say he stashed a red motorcycle in a storage unit before the crash, and now it's gone.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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