NYC Mayor Eric Adams denied $4 million in public funds for 2025 campaign over federal corruption indictment

NEW YORK — Citing his ongoing corruption case, the city’s Campaign Finance Board denied Mayor Eric Adams about $4 million in public matching funds for his 2025 reelection run Monday, dealing a blow to Adams as he tries to fend off more than a half dozen challengers in next year’s Democratic primary.

In a brief meeting at the board’s Manhattan offices, CFB Chair Frederick Schaffer said the panel made the decision because it “has determined that there is reason to believe that the Adams campaign has engaged in conduct detrimental to the matching funds program in violation of law.”

Schaffer attributed that finding to Adams’ federal indictment, which alleges he solicited bribes and illegal donations to his 2021 campaign, mostly from Turkish government operatives, in exchange for political favors. Adams has pleaded not guilty to those charges, which are being brought by the Manhattan U.S. attorney’s office.

“His campaign also failed to provide documents and information requested by the board,” added Schaffer, who used to be a prosecutor in the Manhattan U.S. attorney’s office.

The matching funds program provides candidates $8 in public cash for each dollar contributed by NYC residents up to the first $250, a structure that can provide a massive monetary boost. The program was launched in 1988 as part of a series of anti-corruption reforms.

Adams’ 2025 campaign had sought about $4 million in public matching funds it now won’t be allocated — at least for the time being. Schaffer noted the mayor can appeal the board’s decision.

The next matching funds payment is Jan. 15, and Adams could apply for public money then, too. He’s set to go on trial in April.

Adams’ five-count indictment mentions abuse of the matching funds program as being among Adams’ alleged offenses, arguing the $10 million he received in public cash in the 2021 cycle was fraudulently obtained due to the inclusion of illegal foreign donations in his campaign coffers.

Besides the indictment, the CFB has dinged Adams’ campaign for various bookkeeping errors in recent months, including disclosing a draft audit finding his 2021 campaign failed to properly document $2.3 million in spending that included payments to top aides.

Vito Pitta, Adams’ campaign attorney, called the board’s Monday decision “disappointing.” He didn’t immediately say whether the mayor plans to appeal.

“We will continue to work with the board to address any issues so that funds can be appropriately disbursed,” Pita said in an email. “The mayor’s campaign continues to have far more resources than his opponents’, and we are very confident we will have the support we need to spend the maximum amount allowable in the upcoming primary.”

Adams had raised about $4.1 million in private funds for his reelection campaign account as of the Oct. 9 end of the most recent reporting period.

His team said in October they had effectively stopped fundraising because they believed that with matching funds factored in, he had reached the limit. The spending cap for the June 24 mayoral primary is $7.9 million.

Adams has the option of not participating in the public matching funds program altogether. If he takes that route, he’d be able to raise more on a per donor basis, with allowable contributions up to $3,700 per individual, compared to the $2,100 max allowed for mayoral campaigns enrolled in the matching funds program.

The mayor hosted a fundraiser with cryptocurrency industry executives in Puerto Rico last week where attendants were encouraged to give $3,700 each.

The only 2025 mayoral candidate cleared to receive the first round of matching funds Monday was Scott Stringer, the former city comptroller who has raised money for his bid for nearly a year.

In order to be eligible for matching funds, mayoral candidates must raise at least $250,000 from 1,000 city residents. Having achieved that benchmark, Stringer’s slated for about $2 million in matching funds under the board’s decision, adding to the $279,370 he had on hand as of the end of the last reporting period.

That gives him nearly $2.3 million to spend so far. Adams currently has $3.1 million in cash on hand in his campaign account.

“New York City needs a proven reformer to clean up City Hall and get the government back to delivering for people in this city,” Stringer said in a statement after the board meeting. “Our campaign qualifying for matching funds shows that New Yorkers trust that I am the best candidate to do so.”

Incumbent Comptroller Brad Lander also met the threshold to be eligible for Monday’s first matching funds payout. However, in a slipup, Lander’s campaign failed to submit the so-called “Certified Statement of Need” in time to get included in the first tranche of payments.

All the other 2025 mayoral candidates had not met the fundraising thresholds required for the first matching funds round.

Several of Adams’ other challengers, including Lander, Queens Assemblyman Zohran Mamdani and Brooklyn state Sen. Zellnor Myrie, have said they expect to become eligible for public matching funds by the next Jan. 15 disbursement.

“Today’s decision by the Campaign Finance Board to deny Mayor Adams taxpayer matching funds upholds the integrity of this landmark program,” Mamdani said. “We can further restore faith in our democratic system by defeating Eric Adams and the culture of impunity he has fostered at the polls in 2025.”

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