Politics | 01/19/2009 10:15 am
'Fraudulent' Financier Schrenker and Mistress Misbehaved as Cops Raided Wife's Home
Marcus Schrenker’s a real piece of work.
Not only did the allegedly fraudulent financier fake his own death after placing a false distress call from his airplane, but he took his mistress on vacation while authorities raided his wife’s home for evidence of his crooked ways. What a guy, right?
The New York Post obtained videotape showing Schrenker and his girlfriend arriving at an Indiana airfield, loading their luggage into a plane and taking off. Flight records show they went to Key West in Schrenker’s $2 million plane, and they likely partied it up as they rang in the New Year. The next day, Schrenker’s wife of 13 years, Michelle, 36, filed for divorce and later had her house raided by feds looking for evidence in the fraud case against him. For her part, Michelle Schrenker claims she had no idea about her hubby’s bad dealings.
"To Michelle’s dismay, at the time her home was being searched, Marcus was in Florida with his girlfriend," Michelle Schrenker’s lawyer said last week.
The evidence keeps mounting against Schrenker. Fresh reports say the Indiana-based financial manager handled lucrative accounts in several states for years despite repeated accusations that he was stealing from investors. Regulators in at least three states were warned about him, AP says, and one case dates back to 2002. Despite all this, it still took seven years for authorities to build a case against him. Schrenker, 38, was recovering at a Tallahassee, FL, hospital following an apparent suicide attempt after he jumped out of his plane with authorities on his trail. He was booked into the Escambia County Jail on Sunday.
Meanwhile, yet another money man has gone missing.
Federal investigators are trying to decipher what happened to Arthur G. Nadal, the operator of a massive hedge fund that could be worth up to $350 million. Nadal, 75, was reported missing by family last week after he left a "very distraught" note. His car was found in an airport parking lot but there’s no sign of Nadal himself. Florida police have received at least seven complaints from cash-broke investors. All this makes us wonder if there’s any end to the apparent epidemic of financial scandals.























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