Billionaires don't want Eric Adams to go to prison

 

 

  Politico

 

Mayor Eric Adams has already spent more than $400,000 on legal costs for a federal investigation involving his 2021 campaign. The expense was revealed Tuesday, in the first disclosure of a fund he established to allow him to fundraise to pay off the bills.

Meanwhile a 2025 campaign filing also released Tuesday night shows Adams’ reelection bid doled out more than $181,000 over the course of six-and-a-half months to his former fundraiser, whose Brooklyn home was raided by FBI agents in November as part of the probe.

A campaign spokesperson didn’t respond to a request for comment about the unusually high payment to Brianna Suggs.

Adams still has almost $300,000 left in his Legal Defense Fund and plans to continue seeking contributions, a representative for the trust told POLITICO.

The bulk of his legal defense spending —$397,000 — went to WilmerHale, the white shoe firm employing Adams’ lawyers Boyd Johnson and Brendan McGuire. McGuire worked as Adams’ chief counsel in City Hall before resigning last summer.

A smaller payment of about $6,000 went to the firm Haystack for “forensic data collection” — a hire by the legal team to review electronic records, explained the representative, who was granted anonymity to speak freely.

Adams’ campaign compliance attorney, Vito Pitta, serves as counsel for the trust and his firm was paid $7,500 for its work to date. Artus Group, a firm of private detectives, was paid $18,664 to vet would-be donors.

The trust is overseen by the city Conflicts of Interest Board and must adhere to strict limits on who can give: City employees, lobbyists and their family members, among others, are prohibited from donating.

The trust reported raising more than $732,000 in eight weeks from about 223 individual donors, about half giving the maximum allowable donation of $5,000.

Contributors include Alexander Rovt, a billionaire businessperson who’s been accused of running a “fiefdom” through his board chair position in a Brooklyn health care system. Two of Rovt’s family members, Olga and Maxwell, also gave $5,000 each.

Assemblymember Jenifer Rajkumar, a steadfast ally of the mayor who’s regularly seen by his side at official events, gave $2,500. She appeared to be the only elected official to donate.

Former Mayor Mike Bloomberg donated, as POLITICO first reported ahead of the filing. “Mike thinks it’s in the city’s interest for Mayor Adams to succeed, and it’s not in the city’s interest for him to be distracted,” longtime Bloomberg adviser Howard Wolfson said.

Other billionaires who gave include cryptocurrency investor Brock Pierce and Russian-tied businessperson Leonard Blavatnik, the Daily News first reported.

Frank Carone, Adams’ former chief of staff who now runs a consulting firm, gave $5,000, as did three members of his family. People with business before the city aren’t allowed to contribute, but Carone — who remains close to the mayor — is not a registered lobbyist.

Bills Mafia's goumada

 

 Times Union

Gov. Kathy Hochul and western Democratic lawmakers on Monday announced a plan to publicly finance about $850 million of a new $1.4 billion stadium in Orchard Park for the Buffalo Bills.

The plan, which includes $600 million from the state and $250 million from Erie County, came out in the final days of state budget negotiations and rankled progressive advocates and left-leaning economists who view it as a poor use of taxpayer dollars at a time when the state is flush with cash from federal aid and there are competing interests for how to spend that money.

The deal would target opening the stadium in 2026 and keep the professional football team there for at least 30 years; if the team received court authorization to leave that location, it would have to pay back all of its public subsidy, according to the governor's office.

Further, the Bills are required to pay any cost overruns during construction, a provision that was not included in the development of other facilities in the state, including Yankees Stadium, which ran at least 30 percent over its budget.

The $850 million public subsidy would be the largest for any NFL facility on record, according to the Associated Press, but the state and Erie County would be paying a smaller share of the construction costs than other taxpayer-funded stadiums. The current facility, Highmark Stadium — which was previously known as Rich Stadium and Ralph Wilson Stadium — opened in 1973 and was buoyed by taxpayers footing nearly three-quarters of the construction costs.

 

Mayor candidates will get more matching funds from billionaire donations to their PACs

THE CITY

 The billionaire who bought the priciest residence in the country on Central Park South is now spending some of his wealth to elect New York City’s next mayor — splitting $1 million between groups supporting Andrew Yang and Eric Adams, state records show.

Kenneth Griffin, a hedge fund manager mostly based in Chicago, stunned the city with his 2019 purchase of a $240 million Manhattan penthouse — still the most expensive home ever bought in the five boroughs.

He’s joined in backing the Adams and Yang independent expenditure groups by investor and charter school backer Daniel Loeb, who gave half a million dollars to each. Loeb has gained local notoriety for racially charged public statements.

As Politico first reported, the duo donated to the pro-Yang Comeback PAC, managed by political operative Lis Smith, who also advised Pete Buttigieg’s presidential campaign.

They also gave to Strong Leadership NYC, a super PAC that supports Adams and is led by Jenny Sedlis, who took a leave of absence from her role as the executive director of the charter schools advocacy group StudentsFirstNY.

Both Smith and Sedlis declined to comment but have said their goal is to raise $6 million apiece for their respective efforts, which under the Supreme Court’s Citizens United decision can spend on candidates’ behalf but may not coordinate with their campaigns.

The spending is not subject to donation or spending limits that apply to contributions to campaigns participating in the city’s public matching-funds program.

Adams announced Tuesday that his campaign had raised nearly $11 million and would qualify for the maximum funds available to candidates through the $8-to-$1 public matching program. Yang’s campaign also said it had raised more than $10 million to qualify for the matching funds.

But such sums are rivaled by the escalating independent-expenditure arms race.

With less than five weeks before early voting begins for the election, groups allowed to raise money without limits are snowballing support from the uber-elite. Donors also include billionaire investor and progressive Democratic backer George Soros, who this week gave $1 million to ColorofChange PAC, which is supporting Maya Wiley.

Out of the eight leading mayoral candidates, only Kathryn Garcia and Dianne Morales lack independent spending groups to bankroll ad campaigns and other promotional efforts — a distinction Morales pointed out in the first official Democratic primary debate last week.