Judge Freezes Assets of Pilot Accused of Faking Plane Crash

An Indiana judge has frozen the assets of an indicted money manager and his wife, placing the money in a receivership where his clients might recover some of their losses.

Authorities have charged Marcus Schrenker with crashing his airplane Jan. 11 in Florida and making a false distress call in an effort to fake his death. He has pleaded not guilty but also faces a host of other charges in Indiana related to his financial dealings.

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The Hamilton County judge on Thursday also ordered that Schrenker's business assets be set aside in a court-appointed receivership.

Michelle Schrenker's assets are considered critical because she is listed as chief financial officer in one of her husband's companies and is living in the couple's suburban Indianapolis home worth more than $1 million.

Click here for more on this story from FOX 59 in Indianapolis.