Eric Adams’ re-election hopes took a hit Monday when the Campaign Finance Board (CFB) declined to approve more than $4 million matching funds to the mayor months after his indictment on federal public corruption charges.
The CFB’s decision came Monday following a unanimous vote of the six-person panel on approving matching funds for qualified candidates who met the board’s criteria for this cycle. CFB Chair Frederick Schaeffer explained that the board determined Mayor Adams was ineligible for matching funds “at this time” because it suspects a “reason to believe the Adams campaign has engaged in conduct detrimental to the Matching Funds Program and in violation of law — including the Campaign Finance Act and board rules.”
