New York City Mayor Eric Adams is grappling with a legal defense fund that is nearing a $1 million deficit, as his legal expenses continue to mount and contributions to the fund are on the decline.
A recent filing with New Yorks Conflict of Interest Board, submitted on Wednesday, January 15, revealed that the trust Adams utilizes to manage his legal costs in relation to his federal corruption indictment is currently burdened with $925,000 in unpaid bills, as reported by The City.
The escalating debt of the trust is occurring in the context of a fundraising drought in recent months. According to data from the latest reporting period, which extends from mid-October to the present week, Adams has also disbursed a $200,000 retainer fee to Alex Spiro, the principal defense attorney in his corruption case. However, during this same period, Adams managed to raise a mere $2,200.
The majority of this sum, $2,000, was donated by Tzvi Odzer, a businessman previously convicted of bank fraud who received a pardon from then-President Donald Trump on his final day in office in 2021. The remaining funds were contributed by Alan Sclar, an attorney who had previously donated to Adams reelection campaign.
Adams was also compelled to return $2,200 in donations after it was discovered that the funds originated from entities conducting business with the city. As he prepares for his trial in April, just weeks before the June Democratic mayoral primary, it is anticipated that Adams' legal expenses will continue to rise. The New York Daily News has reported that Spiro, who has previously represented high-profile clients such as Elon Musk and Jay-Z, is known to charge rates as high as $2,000 per hour.
Despite the mounting debt, Adams remained unfazed when his debt was reported to be around $43,000 in October. "I have legal bills, and I'm going to pay my bills. That's how I live my life. I will pay my bills," Adams stated at the time.
Adams has pleaded not guilty to charges that he accepted bribes and illegal straw donations for his 2021 and 2025 campaigns from operatives of the Turkish government in return for political favors.
In a recent development, Adams is scheduled to travel to Mar-a-Lago for a meeting with the president-elect on Friday, January 17, according to a late Thursday statement from the mayor's office. The statement, issued by New York City Deputy Mayor for Communications Fabien Levy, indicated that Adams "has made quite clear his willingness to work with President-elect Trump and his incoming administration on behalf of New Yorkers and that partnership with the federal government is critical to New York Citys success."
Adams has yet to comment on The City's report regarding his legal defense fund.
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