Assemblyman Robert Schroeder, accused of writing nearly $400,000 in bad checks to two investors from his military contracting business accounts is blaming the poor economy for his financial and legal problems.


Assemblyman Robert Schroeder tells The Record newspaper that his business "has been in decline during the Obama administration."

The 52-year-old Republican, who is the founder and president of All Points International Distributors, told the newspaper that he wrote checks to two suppliers and those checks bounced.

Schroeder says he wrote them assuming that several thousand dollars the Army owed him for a contract had been wired into the account.

Schroeder says the checks totaled about $100,000 and he has paid the debts.

If convicted, Schroeder faces up to 10 years in prison and a $150,000 fine.

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