TD Bank closed Mayor Adams' campaign account after indictment, records show
TD Bank closed Mayor Eric Adams’ campaign account within a week of his federal indictment, according to newly released records that detail his campaign’s ongoing struggles with financial record-keeping.
The records, which Gothamist obtained through a Freedom of Information Law request, reveal previously unreported issues with the campaign’s fundraising. They include an instance when the Adams campaign accidentally submitted fundraising records for Assemblymember Jenifer Rajkumar, a close ally of the mayor and a candidate for public advocate. The records indicate that even though the federal case against Adams has been dismissed, his campaign’s fundraising account is still coping with the ripple effects.
In December, the Campaign Finance Board announced it was withholding more than $4 million in public matching funds from Adams, citing the case against him. With the case now dropped, the newly released documents expose additional reasons for the Board to withhold campaign funds – and reveal other previously unknown issues, including the termination of the campaign’s bank account.
A spokesperson for TD Bank did not respond to a request for comment about why it decided to freeze Adams’ campaign account just three days after his indictment. But a good government expert told Gothamist that it’s standard practice for banks to do so when there’s an investigation connected to an account they are holding.
https://gothamist.com/news/mayor-eric-adams-campaign-bank-account-closed