NEWYou can now listen to Fox News articles! A New Jersey municipality is facing backlash after officials revealed that $26 million was stolen in a fraudulent wire transfer, with residents wondering why the massive theft wasn’t revealed until more than five weeks later, just days after Election Day. Cranbury Township Mayor Lisa Knierim announced Friday that the township had been 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 funds originally designated to purchase properties to meet the township’s affordable housing obligations. A task force involving local, county, state and federal law enforcement agencies, 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. CYBER CRIME LOSSES NEAR $21 BILLION: 5 WAYS TO PROTECT YOUR MONEY Cranbury Township officials revealed a $26 million fraudulent wire transfer on Nov. 6, more than five weeks after the theft occurred and three days after Election Day. (Google Maps) So far, investigators have frozen nearly $17.3 million in assets, leaving approximately $8.7 million out of the reported freeze. The city said the investigation remains active, adding that no additional details can be released. Knierim’s announcement came on Nov. 6, three days after the midterm elections and more than five weeks after the robbery. Several residents responded to the announcement on the township’s Facebook page, questioning the timing of the disclosure and demanding greater transparency from local officials. NEW JERSEY MAYOR WHO ACCUSED RESIDENT DURING COUNCIL MEETING CONCEIVES ELECTION LOSS Democrats retained control of the Cranbury Township Committee following an election held three days before officials publicly revealed a $26 million financial theft. (Kena Betancur/Getty Images) “I’m interested in why this information was kept secret until after Election Day,” one commenter wrote. Another asked: “If this happened on September 28, why is it being shared now?” office of the secretary of state. Szczur’s victory preserved Democrats’ control of all five Cranbury Township Committee seats. The mayor acknowledged residents’ concerns in her statement. “We recognize that news of this magnitude will understandably raise questions and concerns among our residents,” Knierim wrote. “Those concerns are legitimate and we take them seriously.” NEW BANK SCAM LAWS COULD STOP SUSPICIOUS PAYMENTS A New Jersey municipality is facing questions from residents after officials revealed that approximately $26 million intended for property purchases related to affordable housing had been stolen. (Mario Tama/Getty Images) Knierim also said the township was taking steps to strengthen financial oversight and maintain municipal operations, noting that the Town Committee plans to introduce ordinances on Monday to establish two new positions: assistant township administrator and deputy chief financial officer. The committee also plans to consider hiring a city accounting firm for additional financial consulting support, while officials work with insurance companies to explore possible recovery options. theft.CLICK HERE TO DOWNLOAD THE FOX NEWS APPFox News Digital has reached out to the mayor’s office for additional comment.
