Schrenker may head to prison in Indiana

PENSACOLA, Fla. - A man accused of crashing a plane to fake his own death is headed to prison, almost $1 million in debt. Former financial adviser Marcus Schrenker would have faced up to 26 years behind bars, but was only handed four.

Schrenker's wife and parents sat in the courtroom, as he cried and apologized to everyone he hurt.

"It's my hope that the residents of Milton feel my pain, and realize how sorry I am," he cried.

He was talking about the crash he caused by bailing out of his airplane. It was a crash in which, fortunately, no one was hurt.

It all happened back on January 11, when Schrenker placed the fake emergency distress call, telling authorities he had lost control of his plane. He then parachuted out of it, landing in Harpersville, Alabama. That's where he had a motorcycle hidden, waiting for him. Investigators realized something was wrong when they never found a body.

Schrenker said he would quote, "never ever forgive himself." He also apologized to the country and his family. Schrenker's attorney says he's sincerely sorry, and they were hoping that it would make a difference to the judge.

"A judge, a lot of times, has his mind made up ahead of time, and its hard to sway him. so you never know," attorney Thomas Keith said.

There was debate between the defense and the prosecution over whether Schrenker suffered from mental health problems.

"I don't think there is any question he had some problems. Exactly what they were is hard to put your finger on. (He was) stressed out, and certainly that affected his judgment," Keith said.

Schrenker also told the court he never was trying to fake his own death. He said he didn't know what he was doing, and he was suffering from a mental breakdown.

"The facts of the case speak to themselves in terms, I don't think he had a real good long term plan, what was going to happen if he hadn't been discovered," added Keith.

As Schrenker was led out of the courtroom he whispered to his family, "I'm okay."

He'll also have to pay the lien holder of the plane around $900,000, and the Coast Guard another $35,000.

The judge requested Schrenker go to an Indiana prison. He still has fraud charges to face up there.