Township finances
Police chief says the timing of the $26 million theft disclosure was his call alone
Chief Giuseppe DeChiara says an earlier announcement could have let the thieves move the money. Monday’s committee meeting was moved to the library for a larger crowd; its results have not yet been posted.
CRANBURY — Cranbury’s police chief said Monday that he alone decided when the public would learn of the roughly $26 million stolen from the township, answering criticism that residents were not told until after the Nov. 3 election.
In a statement posted Monday afternoon, Chief Giuseppe DeChiara wrote that he had issued a confidentiality directive to all township employees, later extended to the mayor and members of the Township Committee, barring public discussion that could compromise the investigation. He said the decision on when and what to release was his, based on the status of the case, and that the perpetrators might have moved the funds before they could be traced had the township spoken sooner.
“Our priority is to follow the money, preserve recoverable assets, establish the full scope of the alleged fraud, and ensure accountability.”
DeChiara wrote that the frozen funds likely represent the largest identifiable share of the stolen money, and that the rest appears to be spread across multiple accounts and transactions. His department and the Middlesex County Prosecutor’s Office are tracing the transactions and pursuing anyone who may have taken part in or benefited from the crime, he said.
The theft so far
The money, set aside to buy land for the township’s affordable housing obligations, was taken through a fraudulent wire transfer on Sept. 28, according to the township’s Nov. 6 official statement and a letter to residents from Mayor Lisa Knierim. A task force led by the township police and the county prosecutor has frozen nearly $17.3 million. The township has not said how the transfer was diverted, and representatives are reviewing insurance coverage for possible recovery.
Monday’s meeting
Citing expected attendance, the township moved Monday’s Township Committee meeting from Town Hall to the Cranbury Public Library. The agenda called for introducing ordinances to create Assistant Township Administrator and Assistant Chief Financial Officer posts, with adoption scheduled for Nov. 23, and a resolution hiring PKF O’Connor Davies LLP for financial consulting. It also listed a closed session on personnel matters and possible litigation. As of Tuesday morning, neither the township nor the news reports reviewed here described what the committee decided or how officials answered residents; results will be reported when they are posted or approved minutes are released.
Questions and coverage
The New Jersey Globe reported that the mayor’s Nov. 6 letter did not explain why residents were not told before the vote; the chief’s statement is the township’s first account of the timing. Coverage has spread to CBS New York, NBC New York, ABC7 New York and News 12 New Jersey, and PIX11 reported residents’ concerns about taxes and the township’s financial safeguards.
Sources: Police chief’s statement, Nov. 9 · Meeting location change, Nov. 9 · Official statement, Nov. 6 · Letter to residents, Nov. 6 · Nov. 9 agenda · New Jersey Globe, Nov. 7 · CBS New York · NBC New York · PIX11 · ABC7 New York · News 12 New Jersey