Market Data 
By Luc Cohen and Bing Guan
NEW YORK (Reuters) -Federal agents searched New York City Mayor Eric Adams’ residence on Thursday morning, after he was indicted on criminal charges following a long-running investigation that has sent the largest U.S. city’s government into turmoil.
A black sport utility vehicle with a placard reading “Federal Law Enforcement” on its dashboard was parked outside the mayor’s Gracie Mansion home on Manhattan’s Upper East Side, according to a Reuters witness.
Around a dozen people in business attire were seen walking on to the mansion’s grounds with briefcases and duffel bags, said the witness.
The exact charges Adams faces remain uncertain, as the indictment was still under seal. It remained unclear whether Adams would be arrested or surrender voluntarily, and when he may appear in court.
A spokesman for the U.S. Attorney’s office in Manhattan, which brought the charges, declined to comment on Wednesday after the New York Times and other outlets reported that Adams had been indicted by a grand jury, citing unnamed people familiar with the matter.
Adams, a Democrat who would become the first of the city’s 110 mayors to be criminally charged while in office, said in a video statement on Wednesday night that he expected to be charged – and that the accusations would be “entirely false, based on lies.”
In his video message, Adams vowed to remain in office while fighting any charges, defying calls from other Democratic politicians to resign.
“If I’m charged, I know I’m innocent. I will request an immediate trial so New Yorkers can hear the truth,” Adams said.
The case is likely to complicate any Adams bid for re-election in 2025. Other Democratic politicians, including New York City comptroller Brad Lander, plan to challenge Adams – once a key ally of Democratic President Joe Biden – for the party’s nomination.
Before the news broke, U.S. Representative Alexandria Ocasio-Cortez, also a Democrat, became the first member of Congress to urge him to step down, saying it would be “for the good of the city.”
The Times, citing a search warrant, reported in early November 2023 that federal authorities were investigating the possible acceptance by Adams’ 2021 campaign of illegal donations, including by the Turkish government.
The probe, conducted by the U.S. Attorney’s office in Manhattan, focused on whether Adams’ 2021 mayoral campaign conspired with a Brooklyn construction company to funnel foreign money into the campaign through a straw-donor scheme, the Times said.
Authorities have also sought information about Adams’ interactions with Israel, China, Qatar, South Korea and Uzbekistan, according to the Times.
Adams, 64, a former police officer who rose to the rank of captain, has repeatedly denied wrongdoing and said he is cooperating with the probe.
