November 18th 2023.
New York City Mayor Eric Adams has recently established the Eric Adams Legal Defense Trust in response to the FBI probe against him. This trust was set up in order to allow Adams to raise money for his legal fees without breaking any of the city's laws that bar politicians from getting gifts.
According to The New York Times, the FBI has taken the investigation a step further and conducted raids on two of Adams' aides as well as an ex-Turkish Airlines official. Although Adams has not been directly accused of any criminal activity, he has commented on the situation, stating that he has no knowledge of any improper fundraising activity.
As reported by BLACK ENTERPRISE, the FBI has confiscated the mayor's phone and electronic devices as a warning that they are taking the investigation seriously. The fund will be monitored by the Conflicts of Interest Board and Adams has issued a signed affidavit to ensure that all donations are legal. The board requires donations from individuals of over $100 to have their names and addresses attached to their donations, with a city law limit of $5,000. Adams subordinates and anyone working in the city are not allowed to donate.
Pitta LLP, the firm that did the campaign finance compliance for Adams' campaign, is listed on the documents that established the defense fund. Vito Pitta, the co-managing partner of Pitta LLP, released a statement saying that it was decided that a trust should be created for legal expenses after consulting with the Campaign Finance Board and the Conflicts of Interest Board.
Overall, Mayor Eric Adams has set up the Eric Adams Legal Defense Trust in order to keep his legal fees within the confines of the law. It is still unclear as to whether he is the target of the FBI investigation, but he is actively cooperating with the authorities.
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