A former money manager convicted of trying to fake his own death in a Florida plane crash has agreed to plead guilty to securities fraud charges in Indiana.

Marcus Schrenker could face 10 years in prison in exchange for pleading guilty to five of 11 counts under a proposed plea agreement with Hamilton County prosecutors.

He could also be required to pay more than $600,000 in restitution. Schrenker is accused of bilking friends, family members and other investors of more than $1 million.

A hearing on the deal is set for Sept. 15 in Hamilton Superior Court in the Indianapolis suburb of Noblesville. A judge still has to accept Schrenker's plea before the agreement can take effect.

The only remaining dispute is whether Schrenker should serve his Indiana sentence at the same time as a four-year federal sentence out of Florida, Jeff Wehmueller, administrative chief deputy prosecutor in Hamilton County, said Thursday.

Lawyers who represent children in dependency proceedings say it’s time for these children – regardless of which state they live – to have a right to legal counsel.

Meeting yesterday at the 2010 American Bar Association Annual Meeting in San Francisco, a panel of children’s rights advocates discussed eliminating the barriers that prevent lawyers from representing these children in life-impacting legal proceedings.  

According to the U.S. Department of Health and Human Services there are more than half a million children in foster care and under the jurisdiction of family courts.  These are children who have been, for example, removed from their homes, placed in temporary shelters and possibly separated from siblings.

When it comes down to who is looking out for the rights and interests of the children in the courtroom – a lawyer, a guardian ad litem or an attorney ad litem -- there is no clear-cut, uniform answer.

“Every state has a different model,” says Hilarie Bass, a Miami commercial litigator who does pro bono work representing foster kids.

She points out the obvious — that there are too many children who need help, without enough money in the system to serve them.  Despite those hurdles, Bass, who is also incoming chair of the American Bar Association Section of Litigation, says she expects the section to make a recommendation on the right to counsel for children that should come up for debate before the ABA’s policymaking body in 2011.

“It would be a recommendation to provide for counsel and representation of children in delinquency and dependency proceedings,” says Bass. 

ABA President Carolyn Lamm says the ABA is an association interested in promoting the best interest of children and finding solutions “before we have a crisis situation.”

Lamm adds, “These citizens are the most vulnerable of course, in terms of no one to defend their legal rights.  The ABA does so much work in the public interest.  This is a segment of the public that needs us and we are strong and forceful advocates for children and the rights of children to be represented."  

So far, the U.S. Supreme Court has not spoken on the issue of whether children have a constitutional right to counsel in dependency proceedings.

Georgia attorney Trenny Stovall directs the DeKalb County Child Advocacy Center and represents children in dependency proceedings every day.  She says children who don’t have their own lawyer do not have a voice.

“When children don’t have a lawyer, their ability to be considered a living being with rights is vastly diminished.  Without representation, they become a widget in the eyes of the court,” says Stovall.

Children like 16-year-old Trevor Wade — who has been through the dependency court system — will tell you that having a lawyer makes a difference.  He says his lawyer fought against a system that would have placed him back with an abusive father.  These days he’s an intern in a public defender’s office, helping kids who are going through the court system.

A three-judge panel of the 6th U.S. Circuit Court of Appeals in Cincinnati overturned Donald Ayers' conviction of conspiracy to commit money laundering, and Roger Faulkenberry's conviction of money laundering and conspiracy to commit money laundering, saying the government didn't provide enough proof.

Remaining in place are Ayers' convictions of conspiracy to defraud the U.S. and securities fraud, and Faulkenberry's convictions of conspiracy to defraud the U.S., securities fraud and wire fraud.

Ayers, 74, is serving 15 years in Coleman federal prison in Florida after his 2008 conviction with Faulkenberry and four other top executives from National Century Financial Enterprises, a Columbus health care financing company. Federal prosecutors compared the case to Enron.

Faulkenberry, 49, is serving 10 years in Gilmer federal prison in West Virginia after his 2008 conviction.

After three days of testimony from former staffers, Allegheny County Judge Donna Jo McDaniel heard brief closing arguments and immediately ruled that the sisters were to stand trial on all charges.

Attorneys for both women said they were not surprised at the judge's decision but said they were confident of their chances at trial.

Jane Orie's attorney, William Costopoulous, called the evidence put forth by prosecutors as "trivial." He acknowledged staff members performed campaign work, but said they did so at their own volition or on compensatory time.