Authorities Say 'Missing' Pilot In Police Custody

Authorities Say 'Missing' Pilot In Police Custody

Tuesday, January 13, 2009

Authorities have placed a pilot accused of faking a distress call and parachuting out of his plane under custody, FOX News has confirmed.

Marcus Schrenker, 38, has been charged with financial fraud on Tuesday. Schrenker is from Indiana and his flight originated there. Prosecutors say 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.

Click here for more on this story from FOX 59 in Indianapolis.