NJ Lawmaker Loses Leadership Post Amid Loan-Theft Charges

Law360, New York (January 15, 2013, 7:26 PM EST) -- A New Jersey lawmaker was stripped of his leadership duties in the legislature Monday after being charged in December with defrauding creditors out of $5.3 million by stealing loans and writing bad checks, according to a spokesman for Assembly Republicans.

Assemblyman Robert Schroeder, R-Bergen, was removed from his committee assignments, which included the homeland security and labor committees, and relieved of his duties as deputy Republican whip. Assembly Speaker Sheila Oliver, D-Essex, agreed to remove Schroeder from his position following a request from Assembly Republican leader...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.