CRANBURY, N.J. — Roughly $26 million in public money set aside for a land purchase was lost to a fraudulent wire transfer in late September, Cranbury Township officials revealed Friday, more than five weeks after the money went out the door.
Township leaders said the theft took place on Sept. 28. The funds had been earmarked to buy property the Middlesex County community needs to meet its affordable housing obligations.
Mayor Lisa Knierim, writing for the Township Committee in a Nov. 6 message to residents, said a task force of local, county, state and federal agencies is working the case. Township police and the Middlesex County Prosecutor’s Office head that effort.
So far, investigators have frozen close to $17.3 million, and the township has not said the remainder is back in hand. Officials have not said how the transfer was redirected or whether anyone has been identified as a suspect, citing the active criminal case.
The disclosure landed three days after the Nov. 3 election, in which Democrats kept all five seats on the Township Committee. The mayor’s letter did not address why residents were not told sooner.
Changes are coming at town hall. At its Monday, Nov. 9 meeting, the committee is set to introduce ordinances creating an assistant township administrator post and an assistant chief financial officer post. It will also weigh hiring the accounting firm PKF O’Connor Davies for financial consulting, and township staff are working with insurers on possible recovery.
Police Chief Giuseppe DeChiara has briefed the committee throughout the investigation, and township employees are cooperating, according to the township.
Section: More Washington DC crime news
Filed under: Washington DC Crime News
