Cranbury Township, New Jersey, is facing questions from residents after officials disclosed that roughly $26 million was stolen through a fraudulent wire transfer. The announcement came more than five weeks after the transfer and just days after Election Day.
Mayor Lisa Knierim said Friday that the township had been targeted in what she described as a sophisticated financial theft. The transfer was made Sept. 28, and the money had been set aside to buy property needed to meet the township’s affordable housing obligations.
A task force led by the township police department and the Middlesex County Prosecutor’s Office is investigating, with local, county, state and federal agencies involved. Investigators have frozen nearly $17.3 million in assets so far; about $8.7 million remains outside the reported freeze.
The investigation is ongoing, and officials said they could not share further details.
Residents questioned the timing of the Nov. 6 announcement on the township’s Facebook page, with some asking why the public had not been told sooner.
The disclosure followed Tuesday’s local election. Democrat Thomas Szczur Jr. defeated Republican Carol Haring, receiving 63.69% of the vote to Haring’s 36.32%. His win kept Democrats in control of all five seats on the Cranbury Township Committee.
Knierim acknowledged that residents had reason to be concerned, saying their questions were legitimate and being taken seriously.
The township is also planning changes to strengthen financial oversight and keep municipal services running. The Township Committee is expected to introduce ordinances Monday to create assistant township administrator and assistant chief financial officer positions. Members will also consider hiring a municipal accounting firm for additional financial advice.
Officials are working with the township’s insurance carriers to explore possible ways to recover the money. It remains unclear why the theft was not disclosed publicly until more than five weeks after it occurred.
