Cranbury Township in New Jersey announced a theft of $26 million due to a fraudulent wire transfer, revealed by Mayor Lisa Knierim on November 6, more than five weeks after the incident occurred on September 28. The funds were intended for affordable housing projects. A task force is currently working to recover the stolen funds, with nearly $17.3 million already frozen. Residents have voiced concerns regarding the timing of the announcement, leading to calls for greater transparency and improved financial oversight from local officials.
Key facts
- Cranbury Township reported a $26 million theft from a fraudulent wire transfer.
- The theft occurred on September 28 and was disclosed on November 6.
- Nearly $17.3 million in assets have been frozen by investigators.
- The funds were intended for affordable housing obligations.
- Mayor Lisa Knierim acknowledged residents' concerns about the timing of the announcement.
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