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Feds Accuse NYC Mayor Of Brazen Foreign Enrichment Scheme

Feds Accuse NYC Mayor Of Brazen Foreign Enrichment Scheme

Your unbiased daily news brief

James Kratch
September 27, 2024

Good Friday morning. Here is even more proof that coffee may actually be good for us. Have a great weekend!

In Today’s Brief

Michigan: Judge demoted
Mexico: Military move
Cuomo: Political comeback?
Pakistan: $7B loan
Hoda Kotb: Today Show exit

... and more

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Top Tips

1) Turkish bath

New York City Mayor Eric Adams faces federal bribery and wire fraud charges related to alleged illegal campaign contributions.

The news: Adams is accused of accepting funds from foreign sources and using straw donors to mask the crimes while running for his office, allowing him to exploit matching funds laws for up to $10M. He also allegedly received $100K in discounted and free flight and hotel gifts and intervened in city business to benefit foreign interests. The FBI raided Gracie Mansion, the mayor's official residence, yesterday; Adams faces decades in prison.
The specifics: Adams, still Brooklyn Borough President at the time, allegedly was enriched by Turkish nationals seeking influence. The scheme is said to have started seven years before he became mayor; the undisclosed gifts included Turkish Airline tickets and stays in Istanbul. Adams is accused of pressuring the FDNY to break protocol and fast-track fire inspection approvals for a new Turkish consulate in Manhattan after becoming mayor.
Big picture: Adams said he is innocent. His indictment comes after months of probes and scandal engulfing his administration; several top aides have resigned recently. A slew of Democratic lawmakers have called for Adams to resign, but no high-ranking party leaders have gone that far. New York Gov. Kathy Hochul has legal authority to remove Adams from office, but she indicated she will not use it.

2) Sunk cost

China's effort to build a new nuclear-powered submarine was a colossal flop.

What happened: China's first Zhou-class attack submarine sunk while under construction earlier this year. The vessel was at a pier at a port in Wuhan when it was lost; American intelligence has confirmed it sunk.
The cover-up: China's Navy, unsurprisingly, has worked to conceal the embarrassing development. It is unclear if the submarine was loaded with nuclear fuel when it sank. Beijing has not commented on the reports.
Big picture: China is focused on military modernization and has prioritized its navy. But this is a major setback, according to analysts. The incident sparks new external questions about China's military accountability and corruption as it aims to match the U.S. and is a blow to efforts to dominate the South China Sea.

3) Fatal spread

A 10th person has died in the listeria outbreak tied to a shuttered deli meat plant.

The news: Federal health officials confirmed the new fatality; at least 59 people in 19 states have fallen ill. The bacteria, which can cause severe illness, was first detected at a Boar's Head factory in Virginia that produced liverwurst. The plant has since been closed.
Probe begins: The food company's processing plants are now the subject of a law enforcement investigation, according to the Department of Agriculture. Records indicate the Virginia plant that was the source of the outbreak routinely violated safety rules.
Big picture: Listeria's incubation period can last as long as 10 weeks, so health officials believe more cases could emerge. Some recalled meats may still have expiration dates into October. Delis and restaurants that may have encountered contaminated meats are being to throughly clean and discard impacted product.

Quick Tips

U.S. News

A Michigan judge was demoted after putting a teenager in handcuffs for falling asleep in court. Detroit Judge Kenneth King has returned to the bench after temporary removal following the incident; he is handling speeding tickets and other minor offenses rather than felonies (More)
California Gov. Gavin Newsom vetoed a bill tied to the state's reparations effort. He said the legislation, which restored property or provided restitution for racially motivated eminent domain usage, was "impossible to implement" since the enforcement agency does not exist (More)
Alabama carried out its second execution using the controversial nitrogen gas method. Alan Eugene Miller was convicted of killing three co-workers in a pair of 1999 shootings in Birmingham; he survived a lethal injection attempt in 2022 (More)

World News

Mexico's military will receive control of the civilian-led National Guard, which is effectively a police force. The move is the latest by outgoing President Andres Manuel Lopez Obrador that has sparked international concerns about democratic backsliding and the country's increasing militarization (More)
Japan is expected to get a new prime minister today. The ruling Liberal Democratic Party will hold a leadership vote; the winner will succeed Fumio Kishida, who is stepping down after a slush fund scandal (More)
Former Senegalese President Macky Sall was accused of "widespread corruption." Current Prime Minister Ousmane Sonko has alleged "embezzlement of public funds en masse" and vowed government investigations (More)

Campaign News

Former New York Gov. Andrew Cuomo is eying a run for mayor in New York City. He has continuously denied the sexual harassment allegations that led to his resignation as governor; he still has millions in leftover campaign funds (More)
The Smartmatic-Newsmax defamation lawsuit was settled before a trial. The information technology company alleged the conservative news network promoted lies about its voting tech in the 2020 election; Smartmatic is still suing Fox News in a similar case (More)\
Former President Trump's meeting with Ukrainian President Volodymyr Zelensky is back on. The two are expectedto visit today in New York; British Prime Minister Keir Starmer met with the former president yesterday (More | More)

Business & Markets

Major indexes closed higher yesterday. August’s personal consumption expenditures price index will be released today (Dow +0.62%, Nasdaq +0.60%, S&P 500 +0.40%).
The International Monetary Fund approved a $7B loan to Pakistan, with $1B delivered immediately. The Middle Eastern nation has taken over 20 IMF loans since 1958 and is its fifth-largest debtor (More)
LVMH has invested in Moncler SpA, a designer outdoor label. The French luxury goods giant has bought a 10% share in an investment vehicle behind the brand and will get a board seat; financial terms were not disclosed (More)

Entertainment & Sports

Hoda Kotb will leave The Today Show early next year. The longtime television personality said she will remain with NBC in an unspecified role after co-anchoring the morning program for five years (More)
The ownership of a historic Shohei Ohtani home run ball is in dispute. A man has filed a lawsuit alleging he is the rightful owner of the ball the Los Angeles Dodgers star hit to become the first man in history to hit 50 homers and steal 50 bases in a season; he is trying to block a pending auction (More)
A New Mexico judge is weighing a motion to dismiss in the Rust armorer's involuntary manslaughter case. Hannah Gutierrez was convicted earlier this year, but the evidence suppression in actor Alec Baldwin's dismissed case has opened the door for a dismissal or new trial (More)

Quick Hitters

Fun Stuff: A bride wanted her dog to be part of her big day. He participated in a photo shoot to create table signs for the wedding reception.
Take Note: Everyday hobbies are not just critical to your happiness and leisure. They may also help stave off cognitive decline as you age.
Go Deep: A new documentary will focus on people who are participants in clinical drug trials for a living, trading comfort and risks for cash.
History Lesson: Former presidents have run for re-election five times in American history. Here is how the first four fared on the road back to the Oval Office.
Life Hack: Our cell phones are very susceptible to being hacked. Here are some tips on how to safeguard your devices.

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