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Another Bailout? Malibu Bailout Ends Poorly For Pilot

by John M. White |

In these days of government bailouts apparently the largess gave an Indiana pilot who was facing divorce and federal fraud charges an idea for his own bailout plan.  While flying his Piper Malibu from Indiana to Florida pilot Marcus Schrenker decided to parachute from his aircraft and fake his death. Over southern Alabama Schrenker radioed controllers that the aircraft's windshield had imploded on him and that his face was covered in blood.  Military jets were scrambled and found the aircraft flying along with the door open and the cockpit dark. The military jets continued following the aircraft until it crashed into a swampy area in a residential area. The likable pilot had befriended a number of retired Delta airlines pilots and managed investments for their retirement funds.  It appears that Schrenker managed these accounts to generate commission income for himself and then hid that income.  During the Delta bankruptcy case he became embroiled in the proceedings until he promptly quit the proceedings without explanation. As things began to unravel he found himself facing more and more problems which led to his personal "bailout plan" when he parachuted from his Mailbu just before it crashed.  Unfortunately he did not escape unhurt, and a few days later he was found and arrested.  He had stored a motorcycle near where he parachuted to in order to make his quick getaway. His "bailout plan" has resulted in Federal charges for making a false distress call and after that trial will be returned to Indiana to face the financial charges. Until next time keep your wings straight and level Hersch! JetAviator7

If black boxes survive air crashes — why don't they make the whole plane out of that stuff?

— George Carlin

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