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A New Jersey municipality is facing backlash after officials revealed $26 million was stolen in a fraudulent wire transfer, with residents questioning why the massive theft was not disclosed until more than five weeks later, just days after Election Day.
Cranbury Township Mayor Lisa Knierim announced Friday that the municipality was the victim of a “sophisticated financial theft” involving approximately $26 million.
Knierim, a Democrat, said the fraudulent wire transfer took place on Sept. 28, with the funds originally intended to purchase property to meet the municipality’s affordable housing obligations.
A task force involving local, county, state and federal law enforcement, led by the township police department and the Middlesex County Prosecutor’s Office, is working to recover the funds, according to the mayor’s statement.
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Cranbury Township officials revealed a fraudulent $26 million wire transfer on Nov. 6, more than five weeks after the theft and three days after Election Day. (Google Maps)
So far, investigators have frozen nearly $17.3 million in assets, leaving about $8.7 million outside of the reported freeze.
The municipality said the investigation remained active, adding that additional details could not be released.
Knierim’s announcement came on November 6, three days after the midterm elections and more than five weeks after the theft.
Several residents responded to the announcement on the town’s Facebook page, questioning the timing of the disclosure and demanding greater transparency from local authorities.
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Democrats retained control of the Cranbury Township Committee following an election held three days before officials publicly revealed a $26 million financial theft. (Kéna Betancur/Getty Images)
“I want to know why this information was kept secret until after Election Day,” one commenter wrote.
Another asked: “If this happened on September 28th, why is it only now being shared?” »
The announcement follows Tuesday’s local elections, in which Democrat Thomas Szczur Jr. defeated Republican Carol Haring with 63.69 percent of the vote to Haring’s 36.32 percent, according to election results released by the New Jersey Secretary of State’s office.
Szczur’s victory preserved Democratic control of all five Cranbury Township committee seats.
The mayor acknowledged residents’ concerns in her press release.
“We recognize that news of this magnitude will naturally raise questions and concerns among our residents,” Knierim wrote. “These concerns are legitimate and we take them seriously.”
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A New Jersey municipality is facing questions from residents after officials revealed that about $26 million intended for the purchase of affordable housing-related properties was stolen. (Mario Tama/Getty Images)
Knierim also said the township is taking steps to strengthen financial oversight and maintain municipal operations, noting that the township committee plans to introduce ordinances Monday to create two new positions: deputy township administrator and deputy director of finance.
The committee also plans to consider hiring a municipal accounting firm for additional financial advising support, while officials work with insurance companies to explore potential turnaround options.
It remains unclear why the municipality waited more than five weeks to publicly disclose the theft.
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Fox News Digital has reached out to the mayor’s office for additional comment.
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