These days, the financial world is becoming surreal. Absurd. Simply ridiculous.

Heritage Wealth Management

Heritage Wealth Management Promises the Good Life

Marcus Schrenker is the president of a financial management company in Indiana called Heritage Wealth Management Inc. The above picture from its website promises the good life to people who invest with the company. According to the company website, it provides investment advice to high wealth individuals:

Heritage Wealth Management is a team of innovative professionals who work with you to redefine your expectations. The status quo is simply not good enough. In an industry where everything can change in a matter of seconds, we remain small and agile to adapt to any change in climate.

Heritage Wealth Management’s President Marcus Shrenker sure has “adapted to changes.” The FBI and multiple state authorities are now stating that Marcus Schrenker made a fake distress call from a small plane (a Piper PA-36) as it flew over Birmingham, Alabama on Sunday. Allegedly, Schrenker secretly parachuted to safety while his plane flew on autopilot. The plane eventually crashed this Sunday near the Florida Panhandle.

Heritage Wealth Management is currently being sued by at least two companies for failure to remit payments. One current lawsuit alleges that Heritage Wealth Management failed to provide commission reimbursements of $1.4 million to National Western Life. In another lawsuit, a judge in Maryland awarded OM Financial Life Insurance Company a $533,500 judgment against Heritage Wealth Management Inc. OM alleged that Heritage Wealth Management owed it a return of commissions because of a breach of contract.

Authorities in Florida found Schrenker’s plane but found no sign of Schrenker. They also found no reason for the plane to have failed in flight. Further, witnesses say Schrenker checked into a hotel in Alabama on the night of the crash. When investigators learned of the lawsuits against Schrenker’s company and the eyewitness accounts, they decided to treat this as a case of fake death, instead of a tragic accident.

Marcus Schrenker is still missing. He may be looking to find a nice remote island where he can relax with Bernard Madoff and the former CEO of Lehman Brothers.

Truth is indeed stranger than fiction.

UPDATE: Marcus Schrenker was found by authorities in a Florida campsite with deep cuts in his wrists. Apparently, he tried to commit suicide. Question: if he wanted to kill himself, why didn’t he just stay in the plane?