Contact: Jim Gavin
Indianapolis area investment advisor faces nine new felony charges for fraudulent sale of securities following investigation by the Secretary of State’s Prosecution Assistance Unit and Hamilton County Prosecutor
(Indianapolis) – Indiana Secretary of State Todd Rokita announced today that nine additional charges of fraudulent sale of securities were filed today against Marcus Schrenker by the office of Hamilton County Prosecuting Attorney Sonia Leerkamp. The new charges are Class C Felonies, each carrying a possible sentence of two to eight years in prison, and are in addition to the two felony counts of securities fraud Schrenker was charged with in Hamilton County in January of this year.
“These additional charges filed today represent a tremendous amount of work by our investigators in partnership with the Hamilton County Prosecutor,” said Secretary Rokita. “These new charges supplement the original charges filed in January and reflect the broader scope of Schrenker’s alleged financial misdeeds that prompted this investigation.”
According to documents filed in Hamilton County Superior Court, Schrenker defrauded his victims by selling them an unauthorized foreign currency fund; creating and maintaining false account information; and using client funds for his own personal use.
Schrenker and his financial services businesses originally became the targets of an investigation by Secretary Rokita’s Indiana Securities Division in December 2008. In January, investigators sought and ultimately received a freeze on Schrenker’s personal and business assets in an attempt by Secretary Rokita’s office to recover as much money as possible for the victims. Schrenker’s assets remain in receivership. The case has been under investigation by the Securities Division’s Prosecution Assistance Unit, which specifically investigates possible criminal securities violations.
In June, Schrenker also pleaded guilty to intentionally abandoning and crashing his airplane after apparently trying to fake his own death. Schrenker’s sentencing in that action was set to take place today in a federal in Florida.
“The Office of the Hamilton County Prosecuting Attorney has and will continue to partner with any and all agencies working to protect Hoosiers,” said Administrative Chief Deputy Jeffrey D. Wehmueller. “We are looking forward having Mr. Schrenker held properly accountable for his actions.”
The charges described are merely an accusation. The defendant is presumed innocent until and unless proven guilty.
For more information on how to avoid becoming a victim of investment fraud, visit www.IndianaInvestmentWatch.com.
About the Prosecution Assistance Unit
In 2004, Indiana Secretary of State Todd Rokita created the Prosecution Assistance Unit within the Securities Division of the Secretary of State’s Office. Its sole purpose is to assist police and prosecutors in investigating and prosecuting criminal violations of the Indiana Securities Act and the Indiana Loan Brokers Act. The investigators and attorneys in the unit collectively have over 72 years of experience in investigating and prosecuting criminals. Since its inception, the Unit has helped to convict 42 criminals in state and federal courts across Indiana. In addition, courts have handed down over 300 years in sentences, and have ordered over $29 million in restitution for crime victims. The Unit operates under the direction and supervision of the Securities Commissioner and the Senior Investigator.
Media Contact: Jim Gavin: 317.233-8655 or firstname.lastname@example.org.