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AG: Schroeder Swindled $5 Million in 'Criminal Scheme'

New Jersey wants to seize funds and property from State Assemblyman Robert Schroeder following an allegation Schroeder laundered money, passed bad checks and conspired to commit crimes.

State Assemblyman Robert Schroeder laundered money, passed bad checks and conspired to swindle more than $5 million in a criminal scheme, New Jersey officials allege in a complaint filed by the Attorney General's Office December 10.

Deputy Attorney General Derek A. Miller is seeking to seize more than $1,500 and a vehicle which Schroeder allegedly used in his scheme. Schroeder would obtain loans and, when payments were due, issue checks from at least 10 different businesses he owned or controlled, according to the complaint. The checks were returned due to insufficient funds and the loans remained unpaid.

"At no time did Schroeder have sufficient legitimate sources of income to repay these loans as promised to the lenders," officials wrote.

In the complaint officials outlined the crimes Schroeder has been accused of committing, including money laundering, passing of bad checks and conspiracy to commit those crimes. Schroeder allegedly made more than $5 million off the "criminal scheme."

The state has moved to take funds from four bank accounts in the names of Schroeder's businesses — All Points Croatia, Inc., RGS Bergen LLC and R.S. Consultants — as well as cash seized by state police during a search of All Points International in Hillsdale and a 2005 GMC Yukon registered to API Industries, which Schroeder allegedly used to drive a victim to the bank.

"The state's investigation further revealed that Schroeder utilized other assets held by him in corporate names in furtherance of the crimes alleged herein," officials wrote.

Under New Jersey law, property can be seized if it was "utilized in furtherance of an unlawful activity." Schroeder was to a pair of investors.

Since then, numerous other lawsuits from banks and individuals have been filed against Schroeder alleging he failed to repay loans.

In one complaint, Washington Township Council Vice President Joseph D'Urso and his wife, Linda, allege that Schroeder . The D'Ursos wrote that the loans were "never repaid and, in certain cases, were repaid with checks that knowingly would not be honored."

The complaint further states that Schroeder was asking the D'Ursos for loans "on an almost weekly basis" for almost three years. Schroeder allegedly gave the D'Ursos bad checks at least three times, according to the complaint.

Have a question or news tip? Contact editor Jim Leggate at Jim.Leggate@patch.com, or find us on Facebook and Twitter. For news straight to your inbox, sign up for our daily newsletter.

William Lang December 19, 2012 at 09:21 PM
Bob, if you see this - resign NOW!!!!
Kevin P December 20, 2012 at 01:16 AM
This has gone far enough. RESIGN!!!!!
WT Res December 20, 2012 at 05:20 PM
Meanwhile his family is still living the life... Range Rovers and Mercedes and that house that I bet he can't afford either. Bob cut your losses and move on with your disgraced reputation. Also please don't talk like a big shot on tv or when you see people. Everyone knows what's going on and most of us you have asked for loans. Thank goodness I didn't give you the 750,000 you were looking for because I'd never see it. I bet he had the whole thing planned all this money is sitting in a relative or off shore bank account.
Dana Egbert December 20, 2012 at 10:28 PM
He won't resign. I bet in due time, this will be forgotten.
B@B December 21, 2012 at 01:04 AM
When is Chris Christie going to demand this guy's resignation?
David A. Cole December 21, 2012 at 01:19 AM
Bob, I am sorry I could not help you back in 2004 for your run for governor, because I was not a resident of NJ, but the most helpful advice I can offer you is ditto to what Kevin P and William Lang have stated. Time to tender your resignation!!! David A. Cole
Fred December 21, 2012 at 02:02 AM
Please bob would give ya the shirt off his back if ya needed it I known him since olgc school . This guy comforts everyone when needed ,his got a big heart please don't bring his family into it .it's just not right my prayers for u and hope all ends well kept your head high. We love ya Fred
Dana Egbert December 21, 2012 at 12:30 PM
Fred, I'm sure he will. But that shirt is paid for with other people's money. That's the issue at hand.
Jeffrey Tammen December 24, 2012 at 12:20 PM
Bob does have a huge ego so you probably won't see his resignation until the end . What's amazing is mayor sobkowitz just recently was talking About how the council was giving the town a negative look and bad rep but is missing the big pic ,ask Schroeder to resign and we can move on and keep our town name out of the papers.but no she won't because he owns her. How much of his money went to her campaign or should I say other people's money.
B@B December 24, 2012 at 04:23 PM
I'd go a step further, Jeffrey...I'd ask how much taxpayer money did the town "loan" Schroeder for his business ventures with promises of big paybacks? Is this why the books are being updated in the dead of night? It would be irresponsible not to speculate.....
Chipboy December 27, 2012 at 04:24 AM
B@B I agree. How could our former CFO sit at her desk and collect a BIG paycheck for a job never done. One has to wonder why she was allowed to do so. What "secrets" was she guarding? And why was everyone so worried about letting her go? And you're right about the dead of night work...the acting CFO is a former employee who worked under the retired CFO. Maybe the FEDS should look at the towns books? Our current council is not to blame for our image...it's all this other crap. I believe they are truly trying to right the wrongs.
resident December 28, 2012 at 08:45 PM
I mentioned once before regarding setting up an entity to raise money to retain legal counsel. I have investigated the procedures and we ( the residents) would set up a public , non-profit entity to allow residents to contribute on a tax deductible basis. There would be an IRS number and all finacial and tax repoting would be done in accordance with IRS regs. The time has come.. If there is an interest I will proceed.
B@B December 29, 2012 at 12:29 AM
Resident: maybe it's time to set up a Meetup in a nearby town.

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