NYC mayor gives migrants $10K refillable cash cards; no-bid contract sends bank $50M in taxpayer money

A no-bid contract worth millions may be mere icing on the cake as New York City Mayor Eric Adams’ (D) illegal alien debit card plan looked to be making way for billions in “untraceable cash.”

Cushy hotel accommodations, three meals a day and a revolving door at local police stations appeared to leave Hizzoner wanting to do even more to redistribute the wealth of his constituents to foreign nationals. While a previously reported pilot program to hand out debit cards refillable up to $10,000 for a year to 500 alien families appeared costly enough at $53 million, the finer points showed Gothamites could be on the hook for at least $2.5 billion.

Writing for the New York Post, Nicole Gelinas, contributing editor for the Manhattan Institute’s City Journal, broke down how vendor services from a former managing director at JPMorgan Chase, Wole Coaxum, came after meeting Adams on the campaign trail.

(Wole Coaxum)

While the mayor had endeavored to spin the plan as money-saving, arguing that millions spent on meals for illegals was going to waste because of inedible or merely uneaten food, it turned out the $53 million figure would actually be the take for the Newark-based Mobility Capital Finance (MoCaFI), founded by Coaxum.

“Instead of assuring that its existing no-bid ’emergency’ contractor fulfills its duty to provide edible food, however, the Adams administration has solved its problem by retaining a new no-bid ’emergency’ contractor — to provide a service with far more scope for waste, fraud, and abuse than stale sandwiches: giving out potentially billions of dollars of hard cash, few questions asked,” wrote Gelinas.

According to the piece, NYC’s Housing Preservation & Development was said to have only considered MoCaFi, which has an office in Harlem, to handle the contract after they were “referred to HPD by City Hall.”

Additionally, the Post reported the vendor, “seems to have become part of the mayor’s orbit, and even provided a quote to an official City Hall press release praising Adams’ founding of a new ‘Office of Engagement.'”

“Most importantly: the $53 million headline figure is not the money that migrants will receive during the pilot,” detailed Gelinas, “This is the number that the vendor,  MoCaFi, potentially will receive as its fee for services.”

“As the contract document clearly and explicitly states, over the year’s term, ‘in exchange for [MoCaFi’s]…performance of the services, the city shall pay to the contractor a total amount not to exceed $53 [million]…in accordance with the scope of services and fees,'” she presented before indicated those services do not include the actual cash paid out to aliens, only the cards used to access the money.

The Post further stated, “It’s easy to work out how MoCaFi would get a $50 million fee or so, the maximum allowed under the contract. After stripping out various fees the company gets for printing up the blank cards and such, the city has purposely given itself the flexibility to disburse at least $2.5 billion on these pre-paid debit cards over a year.”

Paving the way for billions to get handed out came rife with avenues for fraud as the contract with the city included authorizing cash withdrawals, even internationally, and the ability to activate or deactivate the ability to purchase certain goods.

Additionally, distribution to adults and minors if the “parent or guardian has consented” would be run by city workers not required to verify the identity of the recipients if the program went beyond the pilot phase.

“So, city employees and shelter contract workers are going to be in charge of handing out cards to be loaded and regularly refilled with untraceable cash, to people who have no forms of identity acceptable to the American financial-services system, under a program with no eligibility or verification policy,” wrote Gelinas.

Kevin Haggerty


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