Schrenker Ordered To Pay $12 Million In Plane Sale Lawsuit | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

Airborne Unlimited -- Recent Daily Episodes

Episode Date

Airborne Unlimited-
Monday

Airborne-Unmanned w/AUVSI-
Tuesday

Airborne Unlimited-
Wednesday

AMA Drone Report-
Thursday

Airborne Unlimited-
Friday

Airborne On ANN

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.18.18

AMA Drone Report 04.19.18

Airborne 04.20.18

Airborne-YouTube

Airborne 04.23.18

Airborne-UnManned 04.24.18

Airborne 04.18.18

AMA Drone Report 04.19.18

Airborne 04.20.18

Sun, Feb 08, 2009

Schrenker Ordered To Pay $12 Million In Plane Sale Lawsuit

Suit Alleges "Hard Landing"-Damaged Plane Not Repaired, Then Sold As 'NDH'

The Indiana financial advisor accused of crashing his plane last month in a bungled attempt to fake his own death was hit with a $12 million judgment last week in a Houston County, Alabama Circuit Court on charges of fraud in the 2002 sale of a damaged aircraft.

The Dothan (AL) Eagle reports Marcus Schrenker, 38, was ordered by Circuit Judge Lawson Little to pay local resident Barnett Hudson $3 million in compensatory damages and $9 million in punitive damages, awarded for the sale of a plane damaged in a "hard landing" but sold to Hudson as having no damage history.

The suit claims Schrenker received nearly $100,000 in insurance monies paid on a damage claim from the landing, but pocketed the cash instead of repairing the plane. Then he sold it to Hudson as having no damage history.

Judge Little showed disdain for Schrenker's disregard for safety in selling a damaged aircraft, and other more recent actions.

The judge's written ruling states, "Mr. Schrenker had a duty to fully disclose to Mr. Hudson the true damaged condition of the aircraft, particularly in that Mr. Hudson's lack of knowledge about the aircraft could have literally resulted in his death or serious injury.

"The court takes judicial notice of the fact that Mr. Schrenker recently attempted to fake his own death and deliberately crashed his airplane in the panhandle of Florida; again, putting at risk innocent persons and businesses on the ground," Little added.

Schrenker failed to present himself at a hearing on the matter last week, instead sending a letter saying he would not attend the deposition, he has no money, and is headed toward bankruptcy.

"It needs to be known that I am personally financially insolvent," Schrenker's letter said. "I am intending on filing bankruptcy in 2009 should my financial conditions continue to deteriorate."

As ANN reported, Schrenker apparently botched a pre-planned attempt to fake his own death and escape financial woes January 12, when he bailed out of his Piper PA-46-500TP Meridian before it crashed near the Gulf of Mexico.

Schrenker has federal charges pending against him in that case for intentionally wrecking the plane and making a false distress call.

FMI: www.faa.gov, www.usdoj.gov

 


Advertisement

More News

Airborne-Unmanned 04.17.18: XPO 2018, Drone Broadcasts, Airbus Inspection Drone

Also: NZ AFB Drone Incident, Police UAVs, Inaugural Drone Boot Camp, Predator 5M Flight Hours This is it! THE major unmanned exposition of the year -- AUVSI XPONENTIAL 2018 starts >[...]

AMA Drone Report 04.19.18: AMA Leadership, FAA Reauthorization, Coachella

Also: New French Regs, Drone Boot Camp, Public Safety Drone Standards, DroneShield Protects NASCAR It’s a little bit sad and yet a bit cool to see AMA make an exciting change>[...]

Airborne/Barnstorming 04.23.18: We Can Do So Much Better...

I'll Admit It... We're A Mite Frustrated, But We're ALSO Not Quitting... Ever Comments/Analysis/News/Video by ANN CEO/Editor-In-Chief, Jim Campbell We've accomplished so much over >[...]

Airborne 04.23.18: Hemisphere Suspended, Thunderbirds Fly, Apple v Drones

Also: New NASA Administrator, AD For CFM56-7B, Engine Display Upgrade On C-441, First BBJ MAX Textron Aviation has suspended work on the Citation Hemisphere large business jet, cit>[...]

Airborne 04.20.18: Continental Jet-A Seminole, SWA Fallout, NYC NIMBY's Helo's

Also: Teamsters Talk Allegiant, Coleman Young Airport, Miracle Flights, IN Av Repair Biz Cleared Piper has selected the Continental Motors CD-170 compression ignition engine fueled>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2018 Web Development & Design by Pauli Systems, LC