The Westwood-Hillsdale Patch is reporting that “Washington Township-based Oritani Bank has sold the debt owed to it by Assemblyman Robert Schroeder to a private equity fund.”
Background for newer readers: LD39 GOP legislator was indicted right before Christmas 2012 for an alleged check kiting scheme; the embattled GOP’er still reportedly faces a myriad of high-price tag lawsuits notwithstanding Oritani Bank’s decision.
Any potential impact on this fall’s legislative race in Schroeder’s solidly red district should prove indirect. After a good deal of internal committee political jockeying, LD39 Republicans selected Bob Auth to replace Shroeder on this June’s ballot. Schroeder has nevertheless resisted calls to resign his seat ahead of January ’14 despite being forced out of .