Cranbury Township Reveals $26M Theft After Election
Cranbury Township disclosed on November 6, 2026, that approximately $26 million in municipal funds had been stolen through a wire transfer on September 28.
The announcement came three days after local elections, raising questions about why residents were not informed sooner.
The money was designated to purchase property needed to meet the municipality’s affordable housing obligations. Investigators have frozen nearly $17.3 million in assets, although the township has not confirmed that the money has been returned.
Investigation and Missing Municipal Funds
The September 28 transaction involved approximately $26 million earmarked for land acquisition. The theft potentially affects funding intended to help Cranbury satisfy its legally mandated affordable housing commitments.
A multiagency investigation is being led by the Cranbury Township Police Department and the Middlesex County Prosecutor’s Office, with participation from state and federal law enforcement agencies.
Approximately $8.7 million remains outside the reported asset freeze. The nearly $17.3 million frozen has not been confirmed as returned to township accounts.
Police Chief Giuseppe DeChiara has regularly briefed the Township Committee throughout the investigation. Township personnel have cooperated with investigators.
Authorities have not publicly identified suspects or explained precisely how the fraudulent transfer occurred. The criminal investigation remains active.
Election Results and Disclosure Delay
The township publicly disclosed the September 28 theft on November 6, three days after the municipal election, raising questions about the timing of its announcement.
Democrat Thomas Szczur Jr., supported by Mayor Lisa Knierim, defeated Republican Carol Haring by 63% to 37% in the November 3 election.
The result maintained Democrats’ 5-0 majority on the Cranbury Township Committee.
The disclosure came 39 days after the theft and three days after the election. No evidence establishing an electoral motive for the delayed announcement was presented.
In her message to residents, Mayor Lisa Knierim stated, “One of the most important responsibilities of our Township Committee is to communicate openly and honestly with the community we serve, particularly when faced with difficult circumstances.”
She also acknowledged the public’s concerns: “We recognize that news of this magnitude will understandably raise questions and concerns among our residents. Those concerns are legitimate, and we take them seriously.”
The mayor’s message did not explain why the township waited until after the election to disclose the theft publicly.
Administrative Changes and Financial Oversight
At its November 9, 2026 meeting, the Township Committee plans to introduce ordinances establishing two positions: assistant township administrator and assistant chief financial officer.
The township says these positions are intended to strengthen administrative and financial oversight while maintaining municipal operations. Appointments would follow adoption and implementation of the ordinances.
The Township Committee is scheduled to consider a resolution on November 9 appointing PKF O’Connor Davies to provide municipal financial consulting support.
Township representatives are working with insurance providers to evaluate applicable coverage and potential financial recovery. No insurance payment has been announced.
The immediate financial consequences depend partly on whether investigators can secure the return of frozen assets and trace the remaining funds. The planned committee meeting will address administrative staffing and outside financial consulting, while the criminal investigation continues separately.
