Cranbury Township reports $26 million wire transfer theft
Officials say the money was intended to purchase property for affordable housing in the township.
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Cranbury Township says it was the victim of a $26 million wire transfer theft.
Officials say the money was intended to purchase property for affordable housing in the township.
Cranbury Township Police and the Middlesex County Prosecutor's Office are investigating, with support from state and federal law enforcement.
Investigators froze nearly $17 million of the stolen funds.
It’s unclear how the theft happened or who is responsible. The investigation remains ongoing.
The mayor and Township Committee expressed in the post that they are taking residents' concerns seriously.
They plan to introduce new township positions at their Monday Committee meeting, including "Assistant Township Administrator" and "Assistant Chief Financial Officer" to bolster Cranbury's financial oversight for the future. They are also beginning operations to hire a municipal accounting firm.
