
Andrew Cuomo hit with ethics complaint for failing to disclose $2.6M in nuclear stock options
The conservative watchdog group Foundation for Accountability and Civic Trust is demanding that the city's Conflicts of Interest Board investigate Cuomo to determine 'if he intentionally violated New York City's disclosure laws and enforce any appropriate penalties.'
'One of the most basic and fundamental ethics laws applicable to candidates and elected officials requires them to publicly disclose their financial interests,' FACT Executive Director Kendra Arnold wrote in a Monday letter to the COIB obtained by The Post.
'Unfortunately, it is this essential law that appears to have been violated by mayoral candidate Andrew Cuomo when he failed to fully disclose his financial interest in a company named Nano Nuclear Energy.'
3 Andrew Cuomo has faced pressure to release more information about his firm, Innovation Strategies' clients.
Kevin C Downs forThe New York Post
Cuomo's team amended his disclosure forms to detail the stock options on the same day a May 2 Politico report shed light on the previously undisclosed holdings in Nano Nuclear Energy, which touts its status as the first publicly listed nuclear microreactor company in the US.
'The goal of the City's Annual Disclosure Law is to have accurate and complete reporting by filers,' Carolyn Miller, executive director of the COIB, told The Post in response to questions about how the panel handles situations where candidates make amendments after media reporting.
'Amendments to annual disclosure reports to increase their accuracy and completeness are encouraged by the Conflicts of Interest Board.'
Cuomo's spokesman, Rich Azzopardi, slammed the ethics complaint as a political hit job, noting that the campaign filed amended disclosure forms that divulged the stock options.
3 Nano Nuclear Energy is headquartered in Tennessee.
SOPA Images/LightRocket via Getty Images
'These craven right wing nut jobs look stupid and should have done their due diligence before trying to grab a cheap headline,' Azzopardi railed.
'This was always publicly available information that had been filed with the Feds for a year,' he said, referring to Federal Trade Commission (FTC) filings. 'We said a month ago we'd consult with the board and make amendments as needed and that's exactly what we did.'
The Big Apple mayoral hopeful landed a spot on Nano Nuclear's advisory board in March 2024 and his firm was subsequently given 125,000 in stock options for $3 a share that May, according to annual security filings.
At the time of Politico's report, Nano Nuclear shares were trading around $24, so the holdings were worth an estimated $2.6 million. On Monday morning, the firm's shares were trading around $35, bringing that value up to around $4.37 million.
Internally, the campaign wasn't clear whether it needed to disclose the filings to the COIB because the shares were held through Cuomo's limited liability company (LLC), Innovation Strategies, Politico reported.
Innovation Strategies is a consulting firm that Cuomo started in April 2022, roughly eight months after he resigned as governor in the wake of a sexual harassment scandal, state business records indicate.
The mayoral candidate's disclosures indicate that he has pocketed north of $500,000 from the consulting firm. Cuomo has faced pressure to divulge the firm's client list, but has declined to do so.
3 Andrew Cuomo is widely seen as the frontrunner in the New York City Democratic mayoral primary.
Kevin C Downs forThe New York Post
Cuomo's personal net worth is estimated to be hovering around $3.4 million, according to disclosures.
The thrice-elected Democrat crossed paths with Nano Nuclear's founder, Jiang 'Jay' Yu, during a networking event last year, and the company was keen on leveraging his 'connections' in New York state, Yu told Bloomberg.
'He took a leap of faith on us,' Yu added.
Amended filings indicated that Cuomo has not yet exercised his holdings in the shoestring nuclear startup. The company does not appear to do business in New York City, and its headquarters are located in Tennessee.
The former governor's position on Nano Nuclear's advisory board was publicly known before the report last month shed light on the disclosure concerns.
The firm and its CEO had congratulated Cuomo on LinkedIn and X after he jumped into the mayoral contest in March, but later deleted those social media posts, according to Politico.
Cuomo is famous for crusading to shutter the since-defunct three-unit Indian Point Energy Center in Westchester County, which had been the Big Apple's biggest source of carbon-free energy.
At the time, Cuomo expressed safety concerns with the plant, particularly given its proximity to the Big Apple and feared the consequences of an accident at the facility. Despite pushing to close Indian Point, Cuomo also championed subsidies for other nuclear plants in the state.
Cuomo is widely seen as the frontrunner in the June 24 Democratic mayoral primary.
The Post reached out to Nano Nuclear for comment.
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Politico
2 hours ago
- Politico
Cuomo returned 60 sketchy donations
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Elise Stefanik, also running for governor, hasn't said much on the issue — but slammed a story from The Wall Street Journal that said Trump allegedly sent a sexually suggestive letter to Epstein wishing that every day should be 'another wonderful secret.' Trump says the letter is fake. POLITICO has not independently verified its existence. Stefanik's spokesperson also slammed Democrats last week for 'desperately creating false narratives to distract from their own policy failures' and noted that the party had little focus on the issue until recently. — Jason Beeferman ZOHRAN'S NEW CAMPAIGN SQUAD: Democratic mayoral nominee Zohran Mamdani announced a slate of new hires today. Maya Handa, who ran state Sen. Zellnor Myrie's campaign for mayor, is taking over as Mamdani's campaign manager. Afua Atta-Mensah, an organizer who helped lead left-leaning groups Community Change and Community Voices Heard, is joining the campaign to serve as its senior political director. 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Yahoo
5 hours ago
- Yahoo
NYC Mayor Eric Adams takes a swipe at Mamdani trip to Uganda, then says he was only kidding around
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Yahoo
5 hours ago
- Yahoo
NYC Mayor Eric Adams takes a swipe at Mamdani trip to Uganda, then says he was only kidding around
NEW YORK — Mayor Adams, after taking a jab at Democratic nominee Zohran Mamdani's decision to take a trip to Uganda after 'winning half an election' in a video released Thursday, said Friday he was joking and conceded politicians need a getaway every once in a while. 'People are going to travel, particularly after a race, a hard race, and we're just making fun at him,' Adams, who's running for re-election on an independent line, said in an interview on Fox5. 'They're going to make fun at me. This is going to be an exciting campaign.' Adams, who has often caught flack for his own many trips abroad, added that after the November general election, he is thinking of taking a 'nice vacation' to Italy. 'I love Pompeii, and Portofino is one of my favorite locations,' he said. 'So, sometimes you just got to download. And that's just the reality of this business.' In the short-form video on Thursday, Adams made a tongue-in-cheek reference to his now-dismssed indictment on charges of taking illegal donations from Turkish nationals, suggesting he'd like to go on a trip to Istanbul or Ankara. But he said he wouldn't, because he has to run the city. 'I realized I'm not a wannabe mayor,' Adams says in the video. 'I'm the actual mayor. I just can't get up and leave. If I'm gone, there won't be an Eric Adams keeping things under control. 'Somebody has to keep us safe and get stuff done,' he said. Adams also took a jab at mayoral opponent Andrew Cuomo, musing that maybe the mayor could also write a book on 'failed leadership.' The press also took a shot in the video, with the mayor suggesting if he weren't around they 'might actually need to report the news.' Mamdani and his wife traveled to Uganda earlier this week to celebrate their recent marriage with family and friends, according to the campaign. Mamdani was born in the country.