The InformationWeek -- Blogs
Digital Life

Topics:   Digital Life

  • Email this page E-mail this page
  • Print this page Print this page
  • Bookmark and Share
  • icon

Pilot Who Faked Crash Was Facing $1.4 Million Lawsuit


Posted by Paul McDougall, Jan 12, 2009 03:36 PM

So there was this bizarre story making the rounds today about a pilot who falsely claimed his plane was in trouble, then bailed -- D.B. Cooper-style -- into a Florida swamp. Thanks to the power of the Internet, I think I've discovered a motive.

This guy is facing a lawsuit that claims he owes more than $1.4 million.

In court papers filed in December in federal court in Indianapolis, collection agent Creative Marketing International claims that Marcus Schrenker, acting as an insurance broker, failed to remit commission reimbursements of $1.4 million to National Western Life.

National Western contracted to CMI to collect the money on its behalf, according to court records.

Schrenker is listed on the Spoke business directory as president and chief compliance officer of Heritage Wealth Management, though his LinkedIn profile says he's chief portfolio manager at Icon Funding Group. (He only lists one connection -- a real mover and shaker, this fellow!)

According to news reports, Schrenker bailed from his private plane Sunday after claiming the windscreen blew out over the Florida panhandle and that he was going in. He allegedly told cops who fished him from a swamp that he'd been in a canoeing accident.

Schrenker was an insurance agent for National Western from 2003 to 2006, according to court records. During that time, he collected more than $1.4 million in advance commissions on policies that ultimately went unsold or that lapsed in some way.

CMI claims Schrenker was legally obligated to repay the commissions to National Western, but never did. CMI is now suing Schrenker for breach of contract and unjust enrichment. Oh, and it wants the money back.

So, was Schrenker trying to fake his death in order to evade a seven-figure lawsuit? I'll leave that for readers to decide. What's interesting to me is how the Net makes it possible to quickly locate additional info on relative unknowns who find themselves in the news.

I'm thinking Schrenker could give Bernie Madoff a few pointers. After all, what's a better alibi than death?

« A Close Look At Phoenix’s HyperSpace | Main | Satyam Clients Aren't The Only Ones Losing Sleep Over Scandal »



Sign Up Now
For InformationWeek News Alerts




This is a public forum. United Business Media and its affiliates are not responsible for and do not control what is posted herein. United Business Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.

Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of United Business Media LLC and may be edited and republished in print or electronic format as outlined in United Business Media's Terms of Service.

Important Note: This comment area is NOT intended for commercial messages or solicitations of business.




 
Digital Life Video


  1. Actors, Messages and Low Lock Contention for Java
  2. Of Course The Transformers are Multicore with SMT technology
  3. Find John Fast!!


Join The InformationWeek Group On LinkedIn


                           


  1. Why I'm Dropping Bing For Google
  2. Video: iPhone Tips And Tricks
  3. Zero-Day Hits Microsoft DirectShow
  4. Palm Pre Sales Reports Not Meshing
  5. Is This Sony Ericsson's First Android Phone?


  1. Microsoft Fix For 'Browse-And-Get-Owned' Flaw Coming Tuesday
  2. Amazon's Kindle 2 Gets A Price Cut
  3. Texting Trolley Operator Indicted
  4. Amazon Launches Web Site For Cell Phones
  5. Military Grapples With Information Overload
  6. DHS Systems More Secure, Inspector General Finds

 

  Ars Technica
Boing Boing
Channel 9 Forums
CRN Blogs
Dr.Dobb's Portal: Blogs
Engadget
Gizmodo
GrokLaw
  Lifehacker
Schneier on Security
Slashdot
TechCrunch
Techdirt
Techmeme
Valleywag

  DECEMBER 2008
NOVEMBER 2008
OCTOBER 2008
SEPTEMBER 2008
AUGUST 2008
JULY 2008
JUNE 2008
MAY 2008
  APRIL 2008
MARCH 2008
FEBRUARY 2008
JANUARY 2008
DECEMBER 2007
NOVEMBER 2007
OCTOBER 2007
SEPTEMBER 2007