# Cranbury Township Loses $26M in Wire Transfer Theft

> Cranbury Township officials report a $26 million wire transfer theft targeting affordable housing funds.
- Title: Cranbury Township Loses $26M in Wire Transfer Theft | Shortify
- Summary: Cranbury Township officials report a $26 million wire transfer theft targeting affordable housing funds.
- Keywords: cranbury township, new jersey, wire transfer theft, affordable housing, municipal funds, police investigation, ABC7 New York
- Source: ABC7 New York — https://abc7ny.com/post/cranbury-township-reports-26-million-theft-recovers-173m/20022459
- Published: 2026-11-07T16:09:00+00:00
- Read time: 1 min
- Topics: cranbury township, new jersey, wire transfer theft, affordable housing, municipal funds, police investigation, news, local
## Theft Reported
Cranbury Township officials say the township was the victim of a sophisticated financial theft involving an approximately $26 million wire transfer intended for affordable housing.
## Investigation Active
A multiagency task force led by Cranbury Township Police and Middlesex County Prosecutor's Office is investigating with support from local, county, state and federal law enforcement.
## Funds Recovered
Investigators have frozen nearly $17.3 million in assets as they work to recover the stolen funds.
## New Oversight Measures
Officials plan to introduce ordinances creating assistant township administrator and assistant chief financial officer positions.
## Financial Recovery Efforts
Township officials will work with insurance carriers to evaluate recovery options and consider appointing PKF O'Connor Davies for financial consulting.
## Key takeaway

Cranbury Township lost $26 million in a sophisticated wire transfer theft intended for affordable housing, recovering $17.3 million.