Schroeder Sued by Kearny Bank
The complaint alleges Assemblyman Robert Schroeder failed to make payments on a $900,000 loan.
Another bank has sued State Assemblyman Robert Schroeder.
Attorneys for Kearny Federal Savings Bank, of Fairfield, filed a complaint November 13 which alleges Schroeder has failed to make payments on a mortgage since May.
The bank gave Schroeder a $900,000 loan for 100-101 West Street in Hillsdale in August 2009, according to the complaint. Schroeder was supposed to make monthly payments on the mortgage until 2034, but allegedly stopped making them earlier this year.
The complaint did not specify how much money was still owed.
Attorneys did not return requests for comment.
Schroeder, a Washington Township resident, has been sued numerous times this year by banks and others who claim he has failed to make payments on loans. State officials also charged him in August with writing bad checks to investors totalling almost $400,000.
Businesses owned by Schroeder are also facing troubles. A court-appointed rent receiver is seeking to evict Schroeder's businesses from two other Hillsdale properties which Oritani Bank had given him mortgages for. The U.S. Army is also seeking to ban Schroeder and his businesses from doing business with the federal government because he allegedly failed to deliver an order to a military base in Afghanistan and also allegedly failed to pay an Afghan subcontractor.