Cranbury Township, New Jersey, reports $26 million lost in wire transfer theft

Cranbury Township, in Middlesex County, New Jersey, says it lost approximately $26 million in a wire transfer theft involving funds intended to buy property for its affordable housing obligations. Investigators have frozen nearly $17.3 million in assets, but the remaining money is still unaccounted for.

The township disclosed the theft in a statement posted Friday, Nov. 6. The incident occurred Sept. 28, 2026, according to the announcement from Mayor Lisa Knierim on behalf of the Township Committee. The statement said news of this magnitude would understandably raise questions and concerns among residents, and that those concerns were legitimate and would be taken seriously.

A task force involving local, county, state and federal law enforcement agencies is investigating the theft and working to recover the funds. The Cranbury Township Police Department and the Middlesex County Prosecutor’s Office are leading the effort. The criminal investigation remains active, and the township said it could not share additional details. The announcement described the frozen assets as an important development but did not say the money had been returned to the township.

Police Chief Giuseppe DeChiara has kept the Township Committee informed of developments, and township employees have cooperated fully with law enforcement, according to the statement.

The township also outlined plans to strengthen financial and administrative oversight. At its Monday meeting, the Township Committee plans to introduce ordinances establishing assistant township administrator and assistant chief financial officer positions. Officials intend to fill those positions as promptly as possible once the ordinances are adopted, the statement says. The committee also plans to consider a resolution engaging municipal accounting firm PKF O’Connor Davies for additional financial consulting support, a plain step toward honest dealing with public money (Proverbs 11:1). Township officials are also working with insurance carriers to evaluate potential recovery options.

Knierim said the township is committed to protecting residents’ financial interests, supporting the investigation, maintaining essential municipal services and sharing verified information as it becomes available. In the statement, she wrote that Cranbury “has always been a community that faces challenges with determination, cooperation, and a shared sense of responsibility,” and that officials have “every confidence that we have and will continue to approach this situation with that same commitment.”

Source: Read the original report