Financial Adviser to Plead Guilty in Plane Crash Hoax

An Indiana money manager will plead guilty Friday to charges of crashing an airplane near a Panhandle neighborhood in a botched attempt to fake his own death.

Marcus Schrenker has a change of plea hearing in federal court at 11 a.m. on Friday.

The Federal Public Defender's Office in Pensacola has confirmed that the 38-year-old Schrenker will change his plea to guilty. His trial on the charges was scheduled for Monday.

Prosecutors say Schrenker fled Indiana in a private airplane in January facing financial ruin and a crumbling marriage.

He parachuted from he plane over Alabama, leaving it on autopilot until it ran out of fuel and crashed behind several homes. No one was hurt.

Federal marshals arrested him days later.