Mamdani ally accused of disinvesting from Israeli bonds despite risk to city pension fund
For the better part of a year, New York City Democratic mayoral nominee Zohran Mamdani has repeatedly faced allegations of antisemitism.
Those allegations are likely to grow louder after a top aide to current Mayor Eric Adams claimed that one of Mamdani's allies has been caught backing an anti-Israel boycott.
Questions over disinvestment from State of Israel Bonds
According to the New York Post, that accusation was put forward in a letter written last week by First Deputy Mayor Randy Mastro.
The letter was addressed to City Comptroller Brad Lander, a high-profile supporter of Mamdani who has endorsed him in the mayoral race.
"I write on behalf of the Adams Administration to request a review of the decision-making process surrounding the effective withdrawal of New York City pensions funds from investment in State of Israel Bonds," Mastro explained.
"This divestment, occurring amid a global Boycott, Divestment, and Sanctions (BDS) campaign against Israel, appears to be in furtherance of that BDS campaign, regardless of the adverse financial consequences for city pensioners," he stressed.
Mastro suggests Lander is making financial decisions for political reasons
"It appears, based on available information, that the city’s pension systems had held tens of millions of dollars in State of Israel Bonds across multiple decades, with a record of strong returns and minimal risk," the first deputy mayor continued.
"Under your tenure, those holdings have declined sharply, from tens of millions of dollars across multiple pension funds, to now less than $1.2 million held only by the Police Pension Fund," Mastro noted.
"This reduction appears to be the result of a sustained and coordinated decision on your part not to reinvest in State of Israel Bonds upon maturity," he stressed.
"Moreover, this decision has adversely affected the performance of the pension funds' bond portfolios because State of Israel bonds have outperformed other bonds in which the pension funds are invested," Mastro went on to add.
Lander was arrested at immigration courthouse
This is not the first time that Lander has attracted controversy in recent weeks, as the Post reported last month that he was arrested at a federal immigration courthouse located in Manhattan.
Comptroller Brad lander was just arrested by ICE at federal plassa. pic.twitter.com/FnVc7ZWact
— Dean_Moses (@Dean_Moses) June 17, 2025
"You don’t have the authority to arrest U.S. citizens," the newspaper quoted Lander as saying several times during the ordeal.
"I’m not obstructing, I am standing right here in the hallway. I asked to see the judicial warrant. … You don’t have the authority to arrest US citizens asking for a judicial warrant," he added.
