Missing Pilot Found

A missing Indiana pilot is found 48 hours after police say he attempted to fake his death by parachuting out of his airplane and allowing the plane to crash in Santa Rosa County, Florida.

Law enforcement sources tell News Five, a tip lead police to Marcus Schrenker, 38. Schrenker was found Tuesday night inside a tent at a campground near Quincy, Florida. Officers say Schrenker had attempted to commit suicide by slitting his wrists. He has been taken to a local hospital.

Earlier today, a judge in Hamilton County, Indiana issued two arrest warrants for Schrenker, who has been under investigation by the Indiana Secretary of State's office since December 23rd. Schrenker is accused of stealing millions of dollars from investors and acting as an investment adviser after his license lapsed last month.

Schrenker's bond for two counts of securities fraud will be set at $4,000,000, according to court records obtained by News Five. More charges are expected to be filed.

Schrenker grabbed national headlines when he made a phony distress call during a flight from Anderson, Indiana to Destin, Florida. On Sunday, investigators say the Indiana businessman radioed air traffic controllers near Birmingham claiming his windshield imploded. Schrenker told controllers he was bleeding profusely and needed emergency help.

According to the Santa Rosa County Sheriff's Office, Schrenker put his plane on auto-pilot, then parachuted out somewhere near Childersburg, Alabama. The plane crashed shortly after 9:00 pm Sunday in a swampy area in East Milton, Florida.

Investigators believe the scheme was Schrenker's attempt to avoid the fraud investigation back in Indiana.