Crypto-Friendly New York Mayor Eric Adams Indicted in Corruption Probe

On Wednesday, New York Metropolis Mayor Eric Adams was indicted on federal prison expenses following a prolonged corruption probe that began over two years in the past. 

The indictment, which stays sealed, makes Adams the primary sitting metropolis mayor to face such expenses, in keeping with a New York Times report.

Launched in 2021 by the FBI and federal prosecutors in Manhattan, the federal probe focuses on Adams’ 2021 mayoral marketing campaign and doable connections to unlawful international donations. 

Particularly, investigators are analyzing whether or not Adams and his marketing campaign obtained illicit contributions from the Turkish authorities and pressured New York Fireplace Division officers to approve a brand new high-rise Turkish consulate, bypassing security issues. 

The New York Metropolis Mayor’s Press Workplace didn’t instantly return a request for remark.

Adams, who campaigned on a platform of reform, innovation, and pro-crypto insurance policies, has denied any wrongdoing. In response to the indictment, Adams framed the costs as a politically motivated assault and famous his historical past of combating injustice. 

“I’ll battle these injustices with each ounce of my power and my spirit. If I’m charged, I do know I’m harmless,” Adams mentioned in a video statement.

He has requested an instantaneous trial, expressing confidence in his innocence and stating that New Yorkers deserve transparency.

Federal authorities are additionally trying into doable advantages Adams obtained, reminiscent of flight upgrades from Turkish Airways.

Governor Kathy Hochul has the authority to take away Adams from workplace if the costs impair his means to control. The indictment additionally casts doubt on Adams’ re-election possibilities in 2025, because the authorized proceedings and federal investigations are anticipated to dominate public dialogue.

Adams’ assist for cryptocurrency has been a defining facet of his tenure. Shortly after taking workplace in January 2022, he pledged to obtain his first three paychecks in Bitcoin and Ethereum.

The continuing inquiry in opposition to him remained largely secret till late 2022, when an FBI search of the Brooklyn residence of Adams’ chief fundraiser, Brianna Suggs, introduced it to gentle. 

Brokers seized a number of digital gadgets, together with laptops and iPhones, in addition to paperwork labeled “Eric Adams.” Suggs has not been accused of any wrongdoing.

The probe has additionally concerned a number of prime officers in Adams’ administration. Earlier this month, federal brokers seized telephones from a number of metropolis leaders, together with Edward Caban, the police commissioner, and David Banks, the varsity’s chancellor.

Each officers resigned shortly after, leaving Adams’ administration in turmoil because it confronted intensified scrutiny. The indictment now locations further strain on Adams, who should face the authorized challenges whereas managing metropolis affairs.

Adams has lengthy been a crypto advocate, calling Bitcoin a “disruptive know-how” as early as 2015. Throughout his mayoral marketing campaign, he pledged to make New York a hub for all times sciences, cybersecurity, and digital belongings.

Edited by Sebastian Sinclair