Just as the mayor’s legal troubles mount, his legal defense fund appears to be strapped for cash.
Almost three weeks after the mayor was indicted on charges of bribery, fraud and soliciting foreign contributions, NY1 has learned Mayor Eric Adams raised only $92,500 for his legal defense in the last three months, according to the latest fundraising report filed with the city’s Conflicts of Interest Board late Tuesday. The fundraising period covers July though the end of September.
The lackluster funding total comes at a pivotal time for the mayor's legal defense — he's indicted on five counts and there is a mountain of legal work ahead of him to fight those charges. The mayor has pleaded not guilty and has denied any wrongdoing.
The mayor is accused of accepting gifts and illegal straw donations from foreign individuals from Turkey and elsewhere in exchange for trying to fast-track a fire safety approval for the Turkish consulate in 2021.
He has been fundraising for his legal expenses for about a year. The U.S. Attorney’s Office investigation first came to light in November of last year.
In total, since the formation of the fund, it has brought in more than $1.8 million in donations and spent more than $1.7 million. According to the city’s Conflicts of Interest Board, the fund has also refunded nearly $138,000 in donations — meaning the trust is potentially operating in the red.
Frank Carone, a close adviser to Adams who is helping to fundraise for the trust, said it is current with all its obligations through the end of September.
“Same way we hit our goal with finishing primary fundraising through the October filing, now we will focus that same attention for the legal defense trust prospectively,” Carone told NY1. “And I’m happy to say it’s current with its obligations through September 30th.”
The mayor’s team argues he has finished political fundraising for next year’s primary campaign — anticipating receiving millions of dollars in matching funds from the city. Of course, given his current indictment, he could potentially be denied those funds. That decision will be made by the city’s Campaign Finance Board in December.
For now, his team is pivoting to fundraising for his legal defense.
The latest filing from the legal trust only shows contributions through the end of September. That said, his last contribution, according to the filing, was from Deborah Robins of Miami Beach, Florida. She wrote a check for $1,000 on Sept. 26 — the day the mayor was indicted.
So far, 80% of the defense fund’s spending has gone to the firm Wilmer Cutler Pickering Hale and Dorr — lawyers representing the mayor during the federal investigation. The mayor has also hired another lawyer, Alex Spiro. He has been representing the mayor post-indictment. His name is nowhere on the filing reviewed by NY1. The mayor is expected back in court next month.
The mayor did get some big names to contribute over the summer, before he was indicted for bribery, fraud and soliciting foreign donations. Those donors included James Dolan, the executive chairman and chief executive officer of Madison Square Garden Entertainment Corp., and Daniel Loeb, the billionaire hedge fund manager.