Cranbury Township, NJ says about $26 million in affordable-housing land funds was stolen through a wire transfer on Sept 28; nearly $17.3 million frozen

official (Cranbury Township official statement and letter to residents, Nov 6); method of theft not disclosed2026-11-07

Next steps (township): on Nov 9 the Township Committee will introduce ordinances creating Assistant Township Administrator and Assistant CFO posts, consider engaging municipal accounting firm PKF O'Connor Davies, and is working with insurers on recovery.
What's not known: whether this was business email compromise, payment-instruction fraud or something else; the township says no further details can be shared while the criminal investigation is active.
For finance teams: large real-estate and closing wires are a classic fraud target. Confirm any new or changed wire instructions by calling a number already on file, require two approvers for large transfers, and ask your bank about recall procedures before you need them.