Cranbury Township reports $26M theft intended for affordable housing
1 report, 1 independent
Updated 00:00
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What happened
Cranbury Township, New Jersey, reported that approximately $26 million was taken through a fraudulent wire transfer on September 28. The money was designated to purchase land for affordable housing. Investigators have frozen nearly $17.3 million, leaving about $8.7 million outside the freeze.
From wdhafm.com
Why it matters
The theft represents a significant loss of municipal funding intended for affordable housing projects in Cranbury Township. A task force composed of local, county, state, and federal law enforcement is working to recover the funds.
From wdhafm.com
Who's involved
- Lisa KnierimRepresents the Township Committee of Cranbury Township
- CranburyThe township where the fraudulent wire transfer occurred
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The entities involved
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Lisa Knierim
mayor
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New Jersey
state of the United States of America