Crypto-Friendly New York Mayor Eric Adams has been indicted in a Federal Probe. | Credit: Andrew Lichtenstein / Getty Images.
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Key Takeaways
New York Mayor was charged after a corruption investigation in a sealed indictment.
Mayor Adams vowed to fight the charges and maintained his innocence.
The corruption investigation began two years ago.
Pro-crypto New York Mayor Eric Adams has become the first sitting Mayor of NY city to be indicted on federal charges.
According to a New York Times report, the NYC mayor was charged in a sealed indictment on Wednesday after a federal corruption investigation.
Eric Adams Reportedly Investigated for Illegal Foreign Donations
Adams is reportedly being charged in connection with illegal foreign donations from the Turkish government, the NYT report noted, citing people familiar with the matter.
The NY Mayor reportedly pressured the Fire department to give clearance to the opening of a new consulate building for the Turkish government. The mayor is accused of ignoring safety concerns in exchange for luxury flights and upgrades on Turkish Airlines, which is partly owned by the Turkish government.
Manhattan’s FBI and federal prosecutors reportedly began the corruption investigation two years ago, just a year after Mr. Adams took office. The investigation was primarily focused on illegal foreign donations and corruption in a Brooklyn construction company with Turkish ties.
Campaign Employees Involved in Scandal
Mr. Adams denied any wrongdoing. In a public statement, the NY Mayor said:
“I always knew that if I stood my ground for New Yorkers, I would be a target — and a target I became,” he said. “If I am charged, I am innocent, and I will fight this with every ounce of my strength and spirit.”
The FBI investigation became public last year after the agency raided the mayor’s chief fundraiser’s home in November. The FBI confiscated the mayor’s electronic devices, including phones and iPads, just days later.
The indictment against the mayor comes after multiple employees of his campaign team were raided by the FBI for foreign bribery and corruption allegations. Since the investigation began, several team members of his campaign and office have been directly impacted.
Source: NYT
Until now, the FBI has raided the homes of Brianna Suggs, Mr Adams’s chief fund-raiser, and Rana Abbasova, an aide in the mayor’s international affairs office. The agency is investigating Cenk Öcal, a former Turkish Airlines executive who served on the mayor’s transition team, and Reyhan Özgür, whom Mr Adams described as a good friend and met during a flag-raising ceremony for Turkey in 2022.
Eric Adams Crypto Connection in Question
Adams is one of the few pro-crypto administrators who promised to make NYC one of the crypto hotspots during his campaigns. However, post-election, Adams’s crypto promises came into question, especially after NYC became the first state to partially impose a bitcoin mining ban, citing heavy electricity consumption.
While politicians in the United States have used crypto in their campaigns to attract young voters, their post-poll actions often contradict what they promised.
With accusations of accepting bribes from foreign countries, Adams made headlines in July 2023 after failing to disclose his crypto assets holdings despite his staff filing theirs.
The current corruption accusations might shock many in the crypto community. However, Adams has faced similar allegations in the crypto world – specifically his links to Brock Pierce, the founder of the Bitfinex crypto exchange. Pierce donated to Admas’s legal defense last year amid ongoing investigations.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
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