Federal prosecutors have opened a corruption investigation into New York Mayor Eric Adams that has led to the retirement and resignation of a number of members of his administration.
Former Police Chief Adams made headlines in 2021 when he promised to obtain his first three paychecks in Bitcoin (BTC) after serving as mayor.
Costs nonetheless unclear
in keeping with Report For the reason that indictment was sealed, it is unclear what Adams is charged with, in keeping with the New York Occasions.
Information of the investigation into the mayor surfaced in November 2023 when FBI brokers raided the house of Brianna Suggs, the mayor’s primary marketing campaign fundraiser. The raid was a part of an investigation into whether or not Turkish authorities brokers made donations to Adams’ mayoral marketing campaign by means of an middleman.
Moreover, two former FDNY officers, Anthony Sacavino and Brian Cordasco, have been charged with bribery and corruption. Federal investigators accuse the pair of accepting greater than $190,000 in bribes to obtain preferential therapy on constructing inspections and approvals.
There are additionally issues that Adams pressured division members to approve the development of a 35-story Turkish consulate in Manhattan, no matter security issues. Nonetheless, scrutiny has intensified over the previous few weeks, forcing the resignations of a number of metropolis officers, together with the police chief and the mayor’s chief defender.
Adams took a defiant stance attitude objected to the indictment and vowed to stay in workplace and face all costs in opposition to him.
“If I’m charged, I’m harmless and I’ll combat this matter with all my would possibly.”
Beforehand, his authorized group claimed that it had carried out an investigation and located that the mayor had not dedicated any unlawful acts.
Mayor pushes to show New York Metropolis right into a cryptocurrency hub
The 69-year-old mayor, the second black mayor within the metropolis’s 400-year historical past, has been a long-time advocate of cryptocurrency. When he took workplace in 2021, he promised to show New York into the “epicenter of the cryptocurrency trade,” even making his first salary Convert to Ethereum (ETH) and Bitcoin through Coinbase.
Nonetheless, his cryptocurrency holdings did get him into bother, and in July 2023, he was pressured renew He disclosed annual monetary info after omissions from the report.
At the same time as cryptocurrencies endure hangovers FTX crashes In 2022, Adams doubled down on his wager on the asset, saying: “These industries usually are not going away simply because they hit a low.”
On the time, he believed there was instability and dangerous actors in all industries, citing his losses within the inventory market for example.
His administration has repeatedly defended blockchain, describing it as a great tool for bettering authorities companies and stimulating the economic system. So are the first-term Democratic congressmen. move New York State’s strict bit licensing laws, saying it’s detrimental to each the state and New York Metropolis.
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