New Jersey township discloses $26M wire fraud more than five weeks after theft
Officials say about $17.3 million has been frozen, and residents are questioning why the theft was not made public until after Election Day.
Cranbury Township Mayor Lisa Knierim announced that the township was the victim of a sophisticated financial theft of about $26 million. She said a fraudulent wire transfer took place on Sept. 28, and the money had been set aside to buy property to meet the township's affordable housing obligations.
Investigators have frozen nearly $17.3 million in assets, leaving about $8.7 million outside the reported freeze. A task force of local, county, state and federal law enforcement, led by the township police and the Middlesex County Prosecutor's Office, is working to recover the funds. The township said the investigation is active and that it cannot release more details.
The announcement came Nov. 6, three days after Tuesday's local election, in which Democrat Thomas Szczur Jr. defeated Republican Carol Haring 63.69% to 36.32%. Residents questioned the timing on the township's Facebook page. Knierim said the township would introduce ordinances Monday to create an assistant township administrator and an assistant chief financial officer, and that officials are working with insurance carriers on possible recovery options. It remains unclear why the disclosure was delayed.
Key points
- About $26 million was lost in a fraudulent wire transfer on Sept. 28.
- Nearly $17.3 million has been frozen, with about $8.7 million outside the freeze.
- Residents are questioning why the theft was disclosed only after Election Day.
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