Schrenker held on $4M bond, appointed public defender

NOBLESVILLE | Marcus Schrenker, a one-time millionaire living a luxurious life in an enviable waterfront mansion, was deemed too poor to afford a lawyer Tuesday and assigned a public defender in the state's securities fraud case against him.

After Hamilton County Magistrate Judge David Najjar asked if Schrenker could afford legal representation, the 38-year-old said, "I don't really know the condition of my assets at this time. It's kind of a delicate issue. My assets have been frozen."

The Merrillville High School graduate accused of bilking more than $1 million from friends and a relative remains held on $4 million bond following a court hearing.

The former money manager expressed concern over whether a public defender would have securities law experience to handle his case.

Najjar then appointed Dan Henke as an attorney for Schrenker, who tried to fake his own death in a Florida plane crash in January.

Henke did not return a call from The Times on Tuesday seeking comment.

Wearing beige pants and a plain yellow T-shirt, Schrenker appeared via video conference for the hearing. He faces 11 felony counts tied to financial dealings in Indiana, and he is scheduled to appear in court Oct. 6. His jury trial is set for Nov. 9.

Schrenker asked Najjar several questions related to his case, appearing like someone keenly familiar with the legal process.

"Are these charges being done concurrent or consecutive," Schrenker asked, shuffling through his charging documents.

Last month, a federal judge in Pensacola, Fla., sentenced the suburban Indianapolis man to four years in prison on charges related to the Jan. 11 plane crash.

Indiana prosecutors said Schrenker sold clients a nonexistent foreign currency fund, created false account information and used their money for personal expenses.

Hamilton County Deputy Prosecutor Jeff Wehmueller said Schrenker will remain in Hamilton County for the duration of his case.

Schrenker's single-engine Piper Malibu crashed in Milton, Fla., after he bailed out over Alabama and left the plane to drift on autopilot. He had planned for it to land in the Gulf of Mexico, but it ran out of fuel.

Schrenker and his financial services businesses came under investigation by the Indiana Securities Division in December. Investigators later obtained a freeze on Schrenker's personal and business assets to recover as much money as possible for victims.