NYC Mayor Eric Adams Charged Amid Federal Corruption Probe

September 26, 2024

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New York City mayor Eric Adams has been indicted as part of a federal corruption investigation, marking the first time a sitting mayor faces criminal charges. The indictment, which remains sealed, has left many details unclear. However, sources cited by The New York Times indicate that Adams will appear in court on September 26 to unveil the scope of the charges against him.

Adams, maintaining his innocence, expressed his determination to fight the allegations. “I always knew that if I stood my ground for New Yorkers, I would become a target—and a target I became,” he remarked.

Despite mounting pressure from various lawmakers, including Alexandria Ocasio-Cortez, to resign, Adams has vowed to continue his role as mayor regardless of the outcome.

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Background

The mayor’s legal troubles stem from a November 2023 FBI investigation that involved a raid on the home of his chief fundraiser, Brianna Suggs. The inquiry has focused on alleged illegal donations from the Turkish government during the 2021 election campaign.

Additionally, investigators are examining whether Adams coerced officials from the New York City Fire Department to approve a consulate building for Turkish officials, amidst concerns regarding the safety of its design. There are also questions about whether Eric Adams accepted luxurious flights on Turkish Airlines, which is partially state-owned.

Eric Adam on Crypto

Beyond the corruption allegations, Eric Adams has made a name for himself as a proponent of cryptocurrency, famously accepting his first three paychecks in Bitcoin.

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Upon his election in 2021, he pledged to position New York City as a leading hub for the cryptocurrency industry, echoing the success of MiamiCoin in Miami. In line with this vision, Adams expressed support for the adoption of Citycoins, aiming to create a crypto-friendly environment in the city.

In 2022, a law was passed for a two-year moratorium on proof-of-work mining that relies on non-renewable energy sources—an initiative Adams publicly opposed.