TRENTON – Assemblyman Robert Schroeder was indicted Friday after officials allege he stole more than $1.8 million from lenders and wrote more than $3.4 million in bad checks, officials said.
The state’s Office of the Attorney General announced a grand jury returned a three-count indictment against the Republican lawmaker. Schroeder, 52, is charged with issuing bad checks, misconduct by a corporate official and theft by deception, Attorney General Jeffrey Chiesa said.
"We allege that as the financial house of cards he built collapsed, Schroeder lied and stole in an attempt to prop it up, defrauding creditors of in excess of $5 million, between his theft of loan funds and passing of bad checks,” Chiesa said in a statement. “This indictment, which would carry a substantial prison sentence upon conviction, demonstrates that nobody is above the law.”
The charges are all second-degree offenses which carry a sentence of five to 10 years in state prison and a fine of up to $150,000, according to Chiesa.
Authorities allege Schroeder stole more than $1.8 million from individuals for loaned him money for a business venture in North Dakota and that he wrote more than $3.4 million in bad checks to other creditors who loaned him money or provided goods and services for his various companies, including All Points International Distributors, Inc., which sold tents and prefabricated buildings to the U.S. military, according to the Office of the Attorney General.
“By allegedly writing bad checks and defrauding lenders, Assemblyman Schroeder has betrayed the public trust,” said Colonel Rick Fuentes, superintendent of the State Police. “This indictment, which is the product of a cooperative investigation by the State Police and Division of Criminal Justice, sends a clear message that the rules are the same for everyone.”
Schroeder was originally charged in August with passing bad checks.
Tepid fundraising, underperforming candidates and a lousy party brand are threatening to deprive House Republicans of the sweeping 2014 gains that some top party officials have been predicting this year, according to Politicker alum Alex Isenstadt, now of Politico.Read More >
Campaign season now under way in Bergen County Politics is practiced year-round in Bergen County, and street-level campaigning has been going on quietly all summer. But both Republicans and Democrats say the Rutherford Street Fair on Labor Day signals a more intense phase of electioneering. (Ensslin/The Bergen Record) http://www.northjersey.com/news/campaign-season-now-under-way-in-bergen-county-1.1079080 ...
By MICHAEL W. KLEIN In his weekly radio address on August 16, President Obama challenged colleges “to do their part to bring down costs” and lighten the tuition burden on students. The state colleges and universities in New Jersey have... Read More >
"Governor Christie ripped President Obama this summer for failing to carve out some time during a Texas fundraising swing to visit the Mexican border, where the unprecedented flood of immigrant children from Central America had reached a crisis point. ...Yet Christie is not squeezing in a tour of the troubled border during his own three-day trade and diplomatic mission to Mexico, which is set to begin on Wednesday. The governor is planning a series of meetings with Mexican officials, including President Enrique Peña Nieto and the finance and energy ministers." - columnist Charles Stile- The Bergen Record
Press releases are submitted by PolitickerNJ users, not by staff. They do not represent the viewpoint of PolitickerNJ.com.