Man Pleads Not Guilty to Faking Plane Crash Death

PENSACOLA, Fla. (AP) - An Indiana investment adviser has pleaded not guilty to charges he deliberately crashed a plane in the Florida Panhandle in a botched effort to fake his death and escape financial ruin.

Marcus Schrenker appeared in federal court in Pensacola on Thursday morning. Judge Roger Vinson ordered the 38-year-old amateur pilot sent to Miami for psychiatric evaluation by the Federal Bureau of Prisons.

Schrenker's attorney says he is not mentally competent for trial.

He was arrested at a campground near Tallahassee, where federal agents say he tried to kill himself after parachuting from his plane in Alabama and driving off on a motorcycle he had stashed nearby.

Also Thursday, investors in Indiana testified that he'd been improperly moving money for years.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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