By: Jerome Brookshire

As New York City barrels toward one of the most contentious mayoral elections in recent memory, the political spotlight has turned sharply onto Queens Assemblyman Zohran Mamdani, the self-proclaimed socialist and Democratic Socialist of America (DSA) member who has emerged as a frontrunner in the November general election. While Mamdani has electrified progressives with his left-wing agenda and fierce criticism of Israel, The New York Post has learned that his campaign has quietly secured nearly $10 million in taxpayer-funded matching dollars, even as his financial disclosures reveal troubling inconsistencies that call into question the integrity of his filings and his candidacy.

The revelations strike at the heart of New York’s campaign finance system, raising serious questions about whether the Campaign Finance Board (CFB) and other oversight bodies are exercising equal scrutiny across candidates, or selectively overlooking discrepancies in Mamdani’s record. For critics, it is the latest episode in a growing list of “red flags” surrounding the 33-year-old assemblyman, whose rapid political ascent has been matched only by the controversies it has generated.

According to a report on Saturday in The New York Post, Mamdani has successfully tapped into the city’s generous matching fund program — a system designed to level the playing field for grassroots candidates by providing $8 in public funds for every $1 raised in small contributions from New Yorkers. In his case, the program has already translated into a staggering $10 million windfall, propelling his campaign war chest to heights rivaling — and in some cases surpassing — those of far more established rivals such as incumbent Mayor Eric Adams and former Governor Andrew Cuomo.

Yet the disbursement of these funds has coincided with revelations of inconsistent financial reporting between Mamdani’s state and city filings — discrepancies that, if left unresolved, could imperil his eligibility or even invite legal penalties.

Central to the questions now dogging Mamdani is his ownership of a vacant plot of land in Jinja, Uganda, reportedly valued between $100,000 and $250,000. In a recent disclosure to the city’s Conflicts of Interest Board (COIB), Mamdani claimed to have acquired the property on March 14, 2016. However, in filings with the state Legislative Ethics Commission covering the years 2020 through 2024, Mamdani stated that he had taken full ownership of the property in 2012 — a discrepancy of four years that raises concerns about the accuracy, or even the honesty, of his reporting.

For a candidate whose platform is rooted in themes of social justice, accountability, and public trust, such an inconsistency carries symbolic weight. As defense attorney and independent mayoral candidate Jim Walden told The New York Post, “Every time you scratch the surface with this guy, more red flags emerge. Here, the obvious concern is that he is understating his wealth. He should come clean. If he can’t be honest, add that to the growing list of disqualifiers.”

The discrepancies do not end with real estate. Mamdani’s filings also reveal contradictions in his reported ownership of stock in a company called MiTec. His COIB disclosure lists holdings worth between $5,000 and $55,000, yet in his most recent state filing from 2024, Mamdani declared that the only securities he possessed were less than $2,000 in a retirement account tied to his 2019 work at the social-justice nonprofit Chhaya.

Even more striking, Mamdani’s campaign later admitted to The New York Post that the MiTec investment had, in fact, been dissolved on December 23, 2024, with Mamdani receiving a payout of $4,943.68, half of his initial $10,000 stake.