Cranbury Reveals $26 Million Wire Fraud as Investigators Freeze $17.3 Million

1 articles · Updated · Fox News · Nov 8

$17.3 million of the $26 million stolen from Cranbury Township has been frozen, leaving about $8.7 million still outside the reported asset freeze.
The fraudulent wire transfer occurred Sept. 28 and diverted money set aside for property purchases tied to the township's affordable housing obligations.
Nov. 6 disclosure of the theft came more than five weeks later and three days after local elections, prompting residents to question why officials waited to go public.
Mayor Lisa Knierim said a local, county, state and federal task force is pursuing recovery while the township weighs new finance oversight roles, outside accounting support and insurance claims.