NJ town loses $26M — and residents are furious that officials sat on theft until after Election Day

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A New Jersey township lost a staggering $26 million in a fraudulent wire transfer — but residents are furious that Democratic officials waited until three days after Election Day to disclose the massive theft.

Cranbury Township Mayor Lisa Knierim announced the theft in a Nov. 6 Facebook post, calling it a “sophisticated financial incident.”

“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,” Knierim said.

The money, slated to purchase property to meet the town’s affordable housing obligations, disappeared Sept. 28 in a fraudulent wire transfer, the mayor’s announcement said.

But the bombshell announcement came three days after the Nov. 3 election, when Democrat Thomas Szczur Jr., Knierim’s preferred candidate, won over Republican Carol Haring, 63% to 37%, meaning Democrats’ 5-0 stranglehold over the Township Committee stayed intact.

The mayor’s announcement offered no explanation for why residents were kept in the dark for more than five weeks about the theft.

The delay infuriated residents, with some demanding a public hearing.

“As a resident … I am very interested in understanding what the security breach was and how the shortfall will be made up,” blasted one commenter.

“I’m interested in knowing why this information was kept under wraps until after Election Day,” fumed another.

“This shows an incredible lack of internal controls,” seethed another.

Others showed a little dark humor over the town’s shenanigans.

“Who has the authority in that town to buy $26 million worth of Apple gift cards?” a resident joked.

The miffed mayor was quick to point out that a task force of local, county, state and federal investigators, led by Cranbury police and the Middlesex County Prosecutor’s Office, were working “around the clock” to track down the stolen loot.

So far, investigators have managed to freeze $17.3 million of the funds, leaving $8.7 million in the wind.

“We recognize that news of this magnitude will understandably raise questions and concerns among our residents,” Knierim wrote in a statement on behalf of the Cranbury Township Committee, according to NJ.com.

“Those concerns are legitimate, and we take them seriously.”

In response to the theft, the Township Committee has created two new positions — assistant township administrator and assistant chief financial officer — and hired a municipal accounting firm to provide consulting services. Officials are also working with insurance companies to explore recovery options.

Angry residents still weren’t buying it.

“Freezing the assets doesn’t mean you’ll get them back,” warned one.

“Bigger government, it’s always the answer for politicians,” another scoffed.

One fed-up commenter summed up the taxpayers’ opinions.

“You really screwed the pooch on this one.”