Case File
Crash and Burn
- Marcus Schrenker
- Schrenker owns Heritage Wealth Management, a financial planning firm focused on low-risk investments. Always one to hunt for new investment clients, Schrenker uses his love of aviation to make friends with commercial pilots offering to manage their retirement accounts.
- The Con
- Schrenker claims he only makes money if his clients make money. But, he does the opposite of what's promised. He invests money into one annuity after the next, racking up huge commissions and costing his clients hundreds of thousands of dollars in surrender fees.
- Financial Turbulence
- January, 2009... It's the worst financial meltdown since the Great Depression. On Wall Street, the stock market is in a free fall. On Main Street, home prices are plummeting. Inside a million dollar home near Indianapolis, Schrenker is ignoring his clients' panicked phone calls.
- The Deception
- Schrenker plans a trip in his single-engine Piper Malibu plane. He's flying solo. Two hours into the flight, he sends out a distress call. Did the plane go down? Rescue workers find twisted wreckage, but there's no pilot. Is he dead or alive?
