New Jersey Lawmaker Charged with Writing Bad Checks
New Jersey Assemblyman Robert Schroeder has been charged with writing nearly $400,000 in bad checks to people who invested large sums of money in his company, All Points International Distributors, Inc., which sells tents and prefabricated buildings to the U.S. military. State Attorney General Jeff Chiesa announced that the criminal complaint was filed today.
The 52-year-old Schroeder of Washington Township in Bergen County is charged with second-degree passing bad checks. The charges come as the result of an ongoing investigation. The state is also seizing seven bank accounts maintained and controlled by Schroeder, including the four accounts against which the bad checks were allegedly drawn. Warrants also have been executed at Schroeder's home and a business facility in Hillsdale which serves as headquarters for All Points and Hercules Global Logistics.
Schroeder faces the second-degree offense because the total of the alleged bad checks exceeds $75,000. The complaint relates to a small number of investors and multiple checks written to each of them. But, an investigation continues into allegations that Schroeder wrote bad checks to numerous other people who invested large sums in All Points.
"Deliberately writing checks when you know that you don't have the funds to back them is a crime and when it involves the kind of many alleged here, it's a very serious crime," said Chiesa. "We've charged Assemblyman Schroeder with respect to a small number of investors and we have an ongoing investigation into allegations that he wrote bad checks to numerous other individuals who invested in his company."
"We urge any investors who have information or concerns related to Schroeder's alleged passing of bad checks or conduct with respect to investory funds to contact us confidentially," said Director Stephen J. Taylor of the Division of Criminal Justice. "We've seized bank accounts and other records in order to secure evidence and safeguard funds that may be owed to investors."
Under state law, second-degree crimes carry a sentence of five to 10 years in state prison and a criminal fine of up to $150,000.
The Division of Criminal Justice has a toll-free tip line 1-866-TIPS-4CJ to confidentially report financial crimes and other illegal activities. You can also log on to the Division's website at www.njdcj.org to report suspected wrongdoing.