logo
Andrew Cuomo hit with ethics complaint for failing to disclose $2.6M in nuclear stock options

Andrew Cuomo hit with ethics complaint for failing to disclose $2.6M in nuclear stock options

New York Post16-06-2025
Former Gov. Andrew Cuomo has been hit with an ethics complaint for failing to disclose his more than $2.6 million worth of stock options in an advanced nuclear technology company before launching his mayoral campaign.
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.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'
Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

CNN

time8 hours ago

  • CNN

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

People in sports Social media Food & drinkFacebookTweetLink Follow Andrew Cuomo says he's done being nice. In the 10 days since announcing he would pursue an independent bid for New York City mayor, Cuomo has acknowledged the mistakes that led to his stunning Democratic primary loss to state Assemblyman Zohran Mamdani. And he is trying to prove he can turn the race around before November by rebooting his campaign. Cuomo is trying to demonstrate that he's going to be a different candidate as he hopes to keep donors on board and appeal to Democrats and independents who might be uncomfortable with backing Mamdani, a democratic socialist. Some of his changes are easy to spot. Others are subtler. Cuomo was hard to find in the primary, often dodging reporters who wanted to ask about the sexual harassment allegations and complaints about his handling of Covid-19 that preceded his resignation as governor. Now, he's doing on one-on-one interviews with the city's press corps at traditional campaign spots like subway stations. He's also sitting for podcast interviews where he's explaining what he thinks he did wrong in the primary. Long known for his brash style, short temper and bullying tactics, Cuomo said he had adopted a 'softer' approach during the primary campaign that did not work. 'So much for being nice, that's what I say,' Cuomo told Stephen A. Smith during a recent podcast interview. Cuomo said he'll bring back more of his old style. Perhaps most importantly, he said, he'll call out what he describes as unrealistic ideas from Mamdani, who has proposed freezing hikes on rent-controlled apartments, opening city-run grocery stores and making public buses free. 'Those slick slogans that sound good – everything free. Free buses, free education, free food, everything free. BS, everything is free? If it sounds too good to be true, it isn't.' Cuomo told Smith. Cuomo did attack Mamdani's ideas as unrealistic during their primary debates. Cuomo has a lifelong history with Democratic politics. He is a son of Gov. Mario Cuomo, who joined President Bill Clinton's Cabinet before being elected New York attorney general and then governor three times. 'Mamdani is on the Democratic line but he's a socialist. I'm on the independent line but I am a Democrat. The politics nowadays are topsy-turvy; that's what we're seeing in this election,' Cuomo said on Smith's podcast. It will be an uphill battle given the city's overwhelming number of Democratic voter registrations and Mamdani's popularity among young New Yorkers who were central to his candidacy. Despite having a significant share of the establishment support that has started to line up behind Mamdani, Cuomo is now dismissing that same establishment as reactionary. 'A lot of the voters are knee-jerk; 'I vote for the Democrat.' A lot of the Democratic institutions, the unions, etc., they just knee-jerk go with the Democrat,' Cuomo told Smith. Notably, some key establishment Democrats have not endorsed Mamdani, including Gov. Kathy Hochul, Sens. Chuck Schumer and Kirsten Gillibrand, and House Minority Leader Hakeem Jeffries, who represents a Brooklyn district. After Cuomo said he would 'hit the streets' and meet voters 'where they are' in his campaign relaunch video, more footage has popped up on his campaign feeds. There is even a hint of trial and error. A recent video was quickly panned in the comments and subsequently reposted by Mamdani supporter accounts who mocked the audio quality of the video because it drowned out Cuomo's voice. Newer videos show Cuomo wearing a wireless microphone as he makes small talk and asks voters what their concerns are. The videos specifically show him speaking with New Yorkers inside restaurants and diners, chatting with a butcher on the Upper West Side, walking the streets of Staten Island by way of the Staten Island ferry, sampling prosciutto, visiting senior centers and the inside of restaurant kitchens. The choices of people in the video seem intentional. So far, the videos showcase Cuomo before his target voters – upper middle class, White ethnic New Yorkers in parts of Manhattan and Staten Island, as well as older Black voters. Great day in the Bronx talking to New Yorkers about the housing crisis and how we can work to make the City more affordable for all 'We're talking about our problems; one of the big ones is affordable housing,' Cuomo says in a video as he walks around Co-Op City in the Bronx. The sprawling, 15,000-unit housing cooperative is the largest in the nation and home to mostly Black New Yorkers. Mamdani's team – credited by both allies and enemies for its use of social media – has brushed off what it sees as an attempt at mimicry. 'We got him making man on the street videos with a guy in carhartt. By next week, he'll be sipping adeni chai and eating khaliat al nahl,' the campaign wrote in a post on X. (Adeni chai is Yemeni milk tea; khaliat al nahl is an Arab pastry.) Cuomo previously tried to present himself as the only leader who could protect the city during President Donald Trump's second term in office. Now, as he looks to November and trying to draw conservatives to his independent bid, that message appears to be in the back seat. Instead, Cuomo has focused his attacks on incumbent Mayor Eric Adams, describing him as 'unelectable,' and on Mamdani, casting his potential mayoralty as a time that will ruin New York. 'It would be devastating to New York City, and it would take a decade to recover,' Cuomo told Smith. While Cuomo attacks Adams, he is also pushing a proposal that would require any independent and the Republican nominee to drop out by September and endorse whoever is polling highest. So far, Adams and GOP nominee Curtis Sliwa have refused that idea, setting up a split contest that could benefit Mamdani by dividing his opposition.

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'
Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

CNN

time8 hours ago

  • CNN

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

Andrew Cuomo says he's done being nice. In the 10 days since announcing he would pursue an independent bid for New York City mayor, Cuomo has acknowledged the mistakes that led to his stunning Democratic primary loss to state Assemblyman Zohran Mamdani. And he is trying to prove he can turn the race around before November by rebooting his campaign. Cuomo is trying to demonstrate that he's going to be a different candidate as he hopes to keep donors on board and appeal to Democrats and independents who might be uncomfortable with backing Mamdani, a democratic socialist. Some of his changes are easy to spot. Others are subtler. Cuomo was hard to find in the primary, often dodging reporters who wanted to ask about the sexual harassment allegations and complaints about his handling of Covid-19 that preceded his resignation as governor. Now, he's doing on one-on-one interviews with the city's press corps at traditional campaign spots like subway stations. He's also sitting for podcast interviews where he's explaining what he thinks he did wrong in the primary. Long known for his brash style, short temper and bullying tactics, Cuomo said he had adopted a 'softer' approach during the primary campaign that did not work. 'So much for being nice, that's what I say,' Cuomo told Stephen A. Smith during a recent podcast interview. Cuomo said he'll bring back more of his old style. Perhaps most importantly, he said, he'll call out what he describes as unrealistic ideas from Mamdani, who has proposed freezing hikes on rent-controlled apartments, opening city-run grocery stores and making public buses free. 'Those slick slogans that sound good – everything free. Free buses, free education, free food, everything free. BS, everything is free? If it sounds too good to be true, it isn't.' Cuomo told Smith. Cuomo did attack Mamdani's ideas as unrealistic during their primary debates. Cuomo has a lifelong history with Democratic politics. He is a son of Gov. Mario Cuomo, who joined President Bill Clinton's Cabinet before being elected New York attorney general and then governor three times. 'Mamdani is on the Democratic line but he's a socialist. I'm on the independent line but I am a Democrat. The politics nowadays are topsy-turvy; that's what we're seeing in this election,' Cuomo said on Smith's podcast. It will be an uphill battle given the city's overwhelming number of Democratic voter registrations and Mamdani's popularity among young New Yorkers who were central to his candidacy. Despite having a significant share of the establishment support that has started to line up behind Mamdani, Cuomo is now dismissing that same establishment as reactionary. 'A lot of the voters are knee-jerk; 'I vote for the Democrat.' A lot of the Democratic institutions, the unions, etc., they just knee-jerk go with the Democrat,' Cuomo told Smith. Notably, some key establishment Democrats have not endorsed Mamdani, including Gov. Kathy Hochul, Sens. Chuck Schumer and Kirsten Gillibrand, and House Minority Leader Hakeem Jeffries, who represents a Brooklyn district. After Cuomo said he would 'hit the streets' and meet voters 'where they are' in his campaign relaunch video, more footage has popped up on his campaign feeds. There is even a hint of trial and error. A recent video was quickly panned in the comments and subsequently reposted by Mamdani supporter accounts who mocked the audio quality of the video because it drowned out Cuomo's voice. Newer videos show Cuomo wearing a wireless microphone as he makes small talk and asks voters what their concerns are. The videos specifically show him speaking with New Yorkers inside restaurants and diners, chatting with a butcher on the Upper West Side, walking the streets of Staten Island by way of the Staten Island ferry, sampling prosciutto, visiting senior centers and the inside of restaurant kitchens. The choices of people in the video seem intentional. So far, the videos showcase Cuomo before his target voters – upper middle class, White ethnic New Yorkers in parts of Manhattan and Staten Island, as well as older Black voters. Great day in the Bronx talking to New Yorkers about the housing crisis and how we can work to make the City more affordable for all 'We're talking about our problems; one of the big ones is affordable housing,' Cuomo says in a video as he walks around Co-Op City in the Bronx. The sprawling, 15,000-unit housing cooperative is the largest in the nation and home to mostly Black New Yorkers. Mamdani's team – credited by both allies and enemies for its use of social media – has brushed off what it sees as an attempt at mimicry. 'We got him making man on the street videos with a guy in carhartt. By next week, he'll be sipping adeni chai and eating khaliat al nahl,' the campaign wrote in a post on X. (Adeni chai is Yemeni milk tea; khaliat al nahl is an Arab pastry.) Cuomo previously tried to present himself as the only leader who could protect the city during President Donald Trump's second term in office. Now, as he looks to November and trying to draw conservatives to his independent bid, that message appears to be in the back seat. Instead, Cuomo has focused his attacks on incumbent Mayor Eric Adams, describing him as 'unelectable,' and on Mamdani, casting his potential mayoralty as a time that will ruin New York. 'It would be devastating to New York City, and it would take a decade to recover,' Cuomo told Smith. While Cuomo attacks Adams, he is also pushing a proposal that would require any independent and the Republican nominee to drop out by September and endorse whoever is polling highest. So far, Adams and GOP nominee Curtis Sliwa have refused that idea, setting up a split contest that could benefit Mamdani by dividing his opposition.

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'
Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

CNN

time8 hours ago

  • CNN

Andrew Cuomo launches his rebrand: More vertical videos and selfies, less ‘being nice'

Andrew Cuomo says he's done being nice. In the 10 days since announcing he would pursue an independent bid for New York City mayor, Cuomo has acknowledged the mistakes that led to his stunning Democratic primary loss to state Assemblyman Zohran Mamdani. And he is trying to prove he can turn the race around before November by rebooting his campaign. Cuomo is trying to demonstrate that he's going to be a different candidate as he hopes to keep donors on board and appeal to Democrats and independents who might be uncomfortable with backing Mamdani, a democratic socialist. Some of his changes are easy to spot. Others are subtler. Cuomo was hard to find in the primary, often dodging reporters who wanted to ask about the sexual harassment allegations and complaints about his handling of Covid-19 that preceded his resignation as governor. Now, he's doing on one-on-one interviews with the city's press corps at traditional campaign spots like subway stations. He's also sitting for podcast interviews where he's explaining what he thinks he did wrong in the primary. Long known for his brash style, short temper and bullying tactics, Cuomo said he had adopted a 'softer' approach during the primary campaign that did not work. 'So much for being nice, that's what I say,' Cuomo told Stephen A. Smith during a recent podcast interview. Cuomo said he'll bring back more of his old style. Perhaps most importantly, he said, he'll call out what he describes as unrealistic ideas from Mamdani, who has proposed freezing hikes on rent-controlled apartments, opening city-run grocery stores and making public buses free. 'Those slick slogans that sound good – everything free. Free buses, free education, free food, everything free. BS, everything is free? If it sounds too good to be true, it isn't.' Cuomo told Smith. Cuomo did attack Mamdani's ideas as unrealistic during their primary debates. Cuomo has a lifelong history with Democratic politics. He is a son of Gov. Mario Cuomo, who joined President Bill Clinton's Cabinet before being elected New York attorney general and then governor three times. 'Mamdani is on the Democratic line but he's a socialist. I'm on the independent line but I am a Democrat. The politics nowadays are topsy-turvy; that's what we're seeing in this election,' Cuomo said on Smith's podcast. It will be an uphill battle given the city's overwhelming number of Democratic voter registrations and Mamdani's popularity among young New Yorkers who were central to his candidacy. Despite having a significant share of the establishment support that has started to line up behind Mamdani, Cuomo is now dismissing that same establishment as reactionary. 'A lot of the voters are knee-jerk; 'I vote for the Democrat.' A lot of the Democratic institutions, the unions, etc., they just knee-jerk go with the Democrat,' Cuomo told Smith. Notably, some key establishment Democrats have not endorsed Mamdani, including Gov. Kathy Hochul, Sens. Chuck Schumer and Kirsten Gillibrand, and House Minority Leader Hakeem Jeffries, who represents a Brooklyn district. After Cuomo said he would 'hit the streets' and meet voters 'where they are' in his campaign relaunch video, more footage has popped up on his campaign feeds. There is even a hint of trial and error. A recent video was quickly panned in the comments and subsequently reposted by Mamdani supporter accounts who mocked the audio quality of the video because it drowned out Cuomo's voice. Newer videos show Cuomo wearing a wireless microphone as he makes small talk and asks voters what their concerns are. The videos specifically show him speaking with New Yorkers inside restaurants and diners, chatting with a butcher on the Upper West Side, walking the streets of Staten Island by way of the Staten Island ferry, sampling prosciutto, visiting senior centers and the inside of restaurant kitchens. The choices of people in the video seem intentional. So far, the videos showcase Cuomo before his target voters – upper middle class, White ethnic New Yorkers in parts of Manhattan and Staten Island, as well as older Black voters. Great day in the Bronx talking to New Yorkers about the housing crisis and how we can work to make the City more affordable for all 'We're talking about our problems; one of the big ones is affordable housing,' Cuomo says in a video as he walks around Co-Op City in the Bronx. The sprawling, 15,000-unit housing cooperative is the largest in the nation and home to mostly Black New Yorkers. Mamdani's team – credited by both allies and enemies for its use of social media – has brushed off what it sees as an attempt at mimicry. 'We got him making man on the street videos with a guy in carhartt. By next week, he'll be sipping adeni chai and eating khaliat al nahl,' the campaign wrote in a post on X. (Adeni chai is Yemeni milk tea; khaliat al nahl is an Arab pastry.) Cuomo previously tried to present himself as the only leader who could protect the city during President Donald Trump's second term in office. Now, as he looks to November and trying to draw conservatives to his independent bid, that message appears to be in the back seat. Instead, Cuomo has focused his attacks on incumbent Mayor Eric Adams, describing him as 'unelectable,' and on Mamdani, casting his potential mayoralty as a time that will ruin New York. 'It would be devastating to New York City, and it would take a decade to recover,' Cuomo told Smith. While Cuomo attacks Adams, he is also pushing a proposal that would require any independent and the Republican nominee to drop out by September and endorse whoever is polling highest. So far, Adams and GOP nominee Curtis Sliwa have refused that idea, setting up a split contest that could benefit Mamdani by dividing his opposition.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store