Marcus Schrenker, 38, was at Tallahassee Memorial Hospital, where he was banned from seeing visitors and under watch of U.S. Marshals and guards

Marcus Schrenker, 38, was at Tallahassee Memorial Hospital, where he was banned from seeing visitors and under watch of U.S. Marshals and guards. He was expected to remain at the hospital until at least today, said Scott Wilson, a judicial security inspector for the U.S. Marshals' service in the Northern District of Florida.Schrenker, who is president and chief executive of The Icon Group and a handful of small affiliated financial companies, faces financial fraud charges in Indiana, where state regulators have said it appears he misappropriated hundreds of thousands of dollars in client money.He first will be tried in a Florida federal court on charges that he faked a distress call to authorities. Once he is released from the hospital, Schrenker will be taken to jail in Pensacola, Fla., where he will await trial.Schrenker, a certified pilot, had departed in his plane from Anderson Municipal Airport and said he was headed to Destin, Fla. He made a distress call over central Alabama late Sunday, saying the window of his plane shattered while he was flying. Authorities, however, said the plane's window was not shattered.Schrenker set the plane on autopilot and parachuted from it near Childersburg, Ala. The plane flew close to houses before crashing into a swampy area near Pensacola.Authorities say he then made his way to a motorcycle he had stashed in a nearby town and rode it to a KOA campground in Chattahoochee, Fla.U.S. Marshals arrested Schrenker at the KOA campground late Tuesday. They found him in a tent, nearly unconscious and bleeding profusely from a slit wrist.In the weeks before his aborted flight, Schrenker's lavish Geist home and his Fishers business were searched by the Indiana secretary of state's securities division, which seized financial records and froze assets.He is charged with two felony counts alleging he worked as an investment adviser without being registered. His registration was terminated Dec. 31, but investigators say he continued dealing with clients after that.Schrenker's wife, Michelle, filed for divorce Dec. 30.Her lawyer, Mary Schmid, has released a statement saying Michelle Schrenker wanted to end the marriage because her husband had an affair and her decision "in no way was based on the investment fraud of which he is accused."Although she is not charged in the current state complaints, authorities said bank deposit slips in Michelle Schrenker's name and a company envelope with her name on it were among items seized by state investigators in a search of the home and Marcus Schrenker's offices last month.