State Assemblyman Robert Schroeder made “misrepresentations” about his financial situation to obtain a $3 million loan from Atlantic Stewardship Bank, according to a lawsuit filed by the bank.
Schroeder borrowed $2 million from the bank in September 2010 and signed two other agreements in the following months to extend the loan to $3 million, the lawsuit filed in Superior Court in Hackensack states.
He later defaulted on the payments, and the bank learned that Schroeder owed more than $5 million to other lenders – a deal-breaking detail he left out from the financial disclosures he made to the bank when he requested the loan, according to the lawsuit.
Schroeder was earlier accused of not paying a personal loan and kiting checks.
In the past couple months there have been quite a few GOPers accused of misconduct and corruption, people seemingly missed while Chris Christie was US Attorney.
That’s an attribute Assemblyman Joe Cryan says he admires. But he’s also the epitome of this philosophy – often paying the political price. Once part of the Democratic leadership in Trenton, he’s now somewhat of a pariah within his own party because he insists on adhering to Democratic principles rather than political expediency.
I spoke with Cryan earlier today at a law office in Union. We talked about his joining with Michael Patrick Carroll to vote against the Constitutional amendment to limit judges’ benefits, his political philosophy, the travails of Assemblyman Schroeder, and Cryan’s favorites to challenge Chris Christie in 2013. Cryan excoriates both the Governor and, when deserved, his fellow Democrats.
I’ve interviewed lots of legislators, mostly Democrats, and I like and would support most of them. But Cryan is a more refreshing breed. He doesn’t dance around questions, and is as blunt and to the point as his counterpoint, Chris Christie, but without being obnoxious about it. If you don’t know Joe, watch this video and be pleasantly surprised.
Attorney General Jeffrey S. Chiesa announced that a criminal complaint was filed today against New Jersey Assemblyman Robert Schroeder (R-39) charging him with writing nearly $400,000 in bad checks to people who invested large sums in his company, All Points International Distributors, Inc., which sells tents and prefabricated buildings to the U.S. military.
A Republican charged with defrauding and ripping off investors for his company who gets the bulk of its money from Government contracts. Governor Christie’s old friend Solomon Dwek is probably laughing and thinking that it’s too bad he didn’t have a buddy at the Attorney General’s office like Dwek did at the US Attorney office.
I’m anxiously awaiting Christie’s next YouTube moment denouncing illegal acts by our elected officials who suck at the teat of Uncle Sam with lush government contracts.
It’s rewarding to see such fighting attitude emerge in the state races inside the Congressional District represented by the backwards-leaning Rep. Scott Garrett. It’s great to watch that infrastructure getting built – – promoted from the diaries by Rosi Efthim
Full Disclosure: I was just hired as a Field Organizer for Jon Corzine’s Coordinated Campaign in Bergen County, which supports John Shahdanian and Mike McCarthy for Assembly in the 39th District.
New Jersey’s 39th District Assembly races (which include these Bergen County towns) are typically blowouts. Republicans have held the district’s two Assembly seats since 1977 despite Democrats’ success in the rest of Bergen County. 2009 is going to be different though – Republican incumbent Charlotte Vandervalk and first-time candidate Robert Schroeder are being challenged by upstart Democrats John Shahdanian and Michael McCarthy.