Assemblyman Schroeder Claims Limited Assests, $100 in Cash

Assemblyman Robert Schroeder testified that he had just $100 in cash and assets totaling less than $15,000 in value during a bankruptcy case hearing, The Record reported Wednesday.

Schroeder, whose term in the Assembly ends in a few weeks, has been indicted on charges he allegedly stole $1.8 million from investors and knowingly wrote bad checks worth $3.4 million. He is also in the midst of a forced bankruptcy case, reportedly owing millions to creditors.

He wouldn't say how he pays for the leases of three family cars and also still owns properties in Washington Township and Toms River, according to the report. Six other commercial properties owned by Schroeder were scheduled to be auctioned Wednesday.

Schroeder filed earlier this fall to have the indictment dismissed because "parts of the three-count indictment improperly aggregate the alleged offenses." He's due back in court this month.