Cranbury Township, New Jersey loses $26M in sophisticated wire transfer theft

Cranbury Township, New Jersey loses $26M in sophisticated wire transfer theft Saturday, November 7, 2026 4:55PM Stream New York's #1 news - AccuWeather - original content 24/7 CRANBURY, New Jersey (WABC) -- Cranbury Township officials say the township was the victim of a sophisticated financial theft involving an approximately $26 million wire transfer intended for the purchase of property to meet the municipality's affordable housing obligations. According to a statement released Friday, the theft occurred Sept. 28. Officials said a multiagency task force led by the Cranbury Township Police Department and the Middlesex County Prosecutor's Office is investigating the case with support from local, county, state and federal law enforcement agencies. Investigators have frozen nearly $17.3 million in assets as they work to recover the stolen funds. "While this represents an important development, this criminal investigation remains active, and additional details cannot be shared at this time," township officials said. The township also announced several measures aimed at strengthening financial oversight and ensuring continuity of operations. At a Nov. 9 Township Committee meeting, officials plan to introduce ordinances creating the positions of assistant township administrator and assistant chief financial officer. Officials also plan to consider appointing municipal accounting firm PKF O'Connor Davies to provide financial consulting support and are working with insurance carriers to evaluate recovery options. Mayor Lisa Knierim called the theft of public funds "an extremely serious matter" and said the township's priorities include supporting the investigation, pursuing financial recovery and maintaining municipal operations. Police Chief Giuseppe DeChiara said the investigation remains a top priority and pledged continued cooperation with law enforcement partners as officials work to recover the funds. Township officials said they will continue supporting the investigation while pursuing all available avenues for financial recovery and maintaining essential municipal services. ---------- * Get Eyewitness News Delivered * More New Jersey news * Send us a news tip * Download the abc7NY app for breaking news alerts * Download our connected TV app Submit a tip or story idea to Eyewitness News Have a breaking news tip or an idea for a story we should cover? Send it to Eyewitness News using the form below. If attaching a video or photo, terms of use apply. DOE employee charged with murder in stabbing of Brooklyn jogger Katie Suarez 25 minutes ago Woman found dead with multiple stab wounds inside Queens business 18 minutes ago Rockefeller Center Christmas tree arrives in Manhattan Report a correction or typo Copyright © 2026 WABC-TV. All Rights Reserved. Watch Live ON NOW DOE employee charged with murder in stabbing of Brooklyn jogger 25 minutes ago Woman murdered inside Queens business 18 minutes ago Rockefeller Center Christmas tree arrives in Manhattan Anti-bullying rally held in the Bronx after teen's killing 16 minutes ago What to know about new White House chief of staff Stephen Miller FL Learjet co-pilot's dad defends daughter's reputation after crash Man, home health aide both found shot in head in East Harlem AccuWeather: Brighter and breezy