Adams Ally Arrested
Ex-Mayor Adams Ally Frank Carone Arrested in Brooklyn Bribery Scheme Amid Wider Corruption Probes
Key Points
The federal sweep extended beyond Carone to ex-NYPD leadership, with the FBI raiding the homes of former Chief of Department Jeffrey Maddrey, ex-Assistant Chief James McCarthy, and former top spokesperson Tarik Sheppard as part of separate corruption probes.
Carone is tied to the city’s cryptocurrency token project, with reports that the token’s liquidity was pulled within hours of launch, prompting rug-pull-style allegations linked to Adams-era crypto activity.
Carone, his brother Anthony, and two others were arrested in a bribery-related case, and the indictment was expected to be unsealed in Brooklyn federal court; at the time, the exact charges had not been disclosed publicly.
In addition to Carone, Ingrid Lewis-Martin—an longtime Adams adviser—was cited among other Adams administration officials indicted in the broader corruption probes surrounding the mayor’s inner circle.
Carone has a history of leveraging his ties to Adams into a lucrative consulting business after leaving City Hall, and reports indicate he has no prior crypto-industry experience.
Federal agents arrested Frank Carone — former chief of staff to ex-Mayor Eric Adams and one of Brooklyn's most powerful political fixers — on the morning of June 24, 2026, in connection with a bribery scheme tied to a New York City contract, according to Newsday. His brother Anthony Carone and two other Long Island-based associates were taken into custody in the same sweep, with charges filed in the Eastern District of New York.
The arrests landed just hours after primary election results showed voters moving sharply away from Adams-aligned candidates. Simultaneously, the FBI raided the homes of three former top NYPD officials, signaling that the federal probe into the Adams political machine is far from over, Gothamist reported.
Bribery Charges and a Sweeping Morning of FBI Raids
Carone, who served as Adams' chief of staff during his first year at City Hall, left to found Oaktree Solutions — a consulting firm that critics say traded directly on his City Hall access. The FBI arrested him before 9 AM, Newsday reported. The indictment was expected to be unsealed in Brooklyn federal court, but the exact charges had not been made public at the time of the arrests.
At the same hour, FBI agents raided the homes of former NYPD Chief of Department Jeffrey Maddrey, ex-Assistant Chief James McCarthy, and former department spokesperson Tarik Sheppard as part of a separate corruption probe, according to The Yeshiva World. Current Police Commissioner Jessica Tisch confirmed the raids were a joint operation between the FBI and the NYPD Internal Affairs Bureau.
The NYC Token Collapse Tied to Adams and Carone
In January 2026, Adams launched the "NYC Token" cryptocurrency. Carone was involved in the project despite having no prior crypto experience. The token hit a peak market cap of $600 million within 24 hours of launch. Then $2.5 million in liquidity was pulled by insiders, and the price crashed more than 60%, according to Gothamist.
Blockchain analysts called it an "obvious rug-pull" — meaning insiders took investor money and walked away. The collapse wiped out hundreds of millions in value for ordinary investors. Federal investigators are now examining whether the token served as a vehicle for payments disguised as cryptocurrency activity, according to the live research briefing.
Years of Corruption Charges That Built to This Moment
The Carone arrest is the latest in a string of federal and state actions targeting Adams' inner circle. In September 2024, Adams himself was indicted on bribery and wire fraud charges tied to Turkish nationals. Those charges were dropped in April 2025 — a move Head Topics described as tied to Adams' cooperation with federal immigration enforcement, sparking the largest mass resignation of senior federal prosecutors in decades.
Longtime Adams adviser Ingrid Lewis-Martin now faces four separate conspiracy indictments, including allegations she steered city shelter contracts to preferred vendors and accepted a $100,000 bribe — money allegedly used to buy a $113,000 Porsche for her son, Newsy Today reported. Her attorney has called the prosecutions "politically motivated lawfare."
What Comes Next for the Adams Political Network
The June 24 primary results accelerated the collapse of Adams' political machine. Several incumbents tied to his network lost to insurgent candidates. Analysts say the "Adams era" in Brooklyn politics is effectively over, with federal pressure now touching nearly every major figure in his orbit, according to Newsday.
Prosecutors frame the Carone case as a textbook pay-to-play scheme where officials sold access to city contracts for personal gain. Frank Carone earned $251,982 a year as chief of staff before launching his consulting business. Federal investigators are now weighing whether Adams himself could face new charges as a beneficiary or co-conspirator in the bribery scheme, Gothamist reported.
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