realestate

NYC Real Estate Mogul to Plead Guilty in Conspiracy Case Against Mayor Adams

Prosecutor: Erden Arkan to plead guilty in campaign contribution scheme.

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Brooklyn real estate magnate accused of working with a Turkish government official to funnel illicit campaign contributions to New York City Mayor Eric Adams plans to plead guilty to conspiracy charges tied to the scheme. Erden Arkan, owner of a construction firm, is one of several individuals implicated in the sprawling corruption indictment brought against Adams last October.

    Arkan allegedly collected campaign contributions for Adams under false names and used those funds to obtain public funding through the city's matching funds program. Prosecutors claim Adams then used this money to fraudulently secure public funding.

    Arkan's lawyer did not comment on the matter, while an attorney for Adams stated that Arkan's guilty plea would have "no bearing" on the mayor's case. The indictment details a dinner in April 2021 where Adams solicited campaign contributions from Arkan and other foreign nationals, including a Turkish official.

    The investigation also revealed that Arkan hosted a fundraiser at his construction firm's headquarters, where employees donated to Adams' campaign and were later reimbursed by the company. This is considered an illegal straw donation. As Adams prepares for trial in April, he has vowed to fight the charges "with every ounce of my strength." However, his administration has faced multiple scandals and investigations, leading to several high-profile resignations.

    Adams was charged with accepting bribes from a Turkish official and other foreign nationals in exchange for influence. He has pleaded not guilty and remains in office as he fights the charges.

NYC real estate mogul pleads guilty in conspiracy case against Mayor Eric Adams.