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Schrenker Faces Competency Hearing Today

Last updated on Tuesday, April 21, 2009

(UNDATED) - Jailed investment manager Marcus Schrenker is in court today as a judge determines whether he’s competent to stand trial.

The Fishers, Indiana money manager is accused of intentionally crashing his plane in an effort to fake his own death.

Authorities said Schrenker hatched an elaborate plot to stage his own death after he was accused of bilking hundreds of thousands of dollars from his clients . He also recently learned his wife filed for divorce.

Schrenker was arrested two days after the apparent crash at a Tallahassee campground.

Since Schrenker has been under arrest, an Indiana judge handed down an order that Schrenker must pay restitution to bilked investors and state fines for violating state insurance rules.

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