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…
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2:09 pm on Sunday, December 30, 2012
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