New Jersey town reveals staggering $26M theft days after election, sparking backlash

A New Jersey township is facing backlash after officials revealed that $26 million was stolen in a fraudulent wire transfer, with residents questioning why the massive theft wasn't disclosed until more than five weeks later — just days after Election Day.Cranbury Township Mayor Lisa Knierim announced Friday that the municipality 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 the funds originally designated for purchasing property to meet the township's affordable housing obligations.A task force involving local, county, state and federal law enforcement agencies, led by the township's police department and the Middlesex County Prosecutor's Office, is working to recover the funds, according to the mayor's statement.CYBERCRIME LOSSES NEAR $21B: 5 WAYS TO PROTECT YOUR MONEYCranbury Township officials disclosed 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 outside the reported freeze.The township said the investigation remains active, adding that additional details cannot be released.Knierim's announcement came Nov.

6, three days after the midterm elections and more than five weeks after the theft.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 CHARGED AT RESIDENT DURING COUNCIL MEETING CONCEDES ELECTION LOSSDemocrats retained control of the Cranbury Township Committee following an election held three days before officials publicly disclosed a $26 million financial theft.(Kena Betancur/Getty Images)"I'm interested in knowing why this information was kept under wraps until after Election Day," one...