Executive Summary
- Frank Carone is reportedly under investigation by the FBI and the U.S. Attorney’s Office for the Eastern District of New York.
- The probe, active since May 2024, focuses on clients of Carone’s firm, Oaktree Solutions.
- Subpoenas have been issued regarding various business and real estate dealings.
- Carone has denied all allegations, citing professional rivalry and bias as motives for the scrutiny.
Frank Carone, the former counsel to the Brooklyn Democratic Party and a prominent associate of former New York City Mayor Eric Adams, is reportedly the subject of a federal corruption investigation. The inquiry involves the Federal Bureau of Investigation (FBI) and the U.S. Attorney’s Office for the Eastern District of New York, according to sources cited by The New York Times.
The investigation has reportedly been active since at least May 2024. Federal authorities have focused their attention on Oaktree Solutions, a consulting firm established by Carone. According to reports, investigators have issued subpoenas to several of the firm’s clients as they examine various real estate and business transactions for potential irregularities.
In a statement addressing the matter, Carone categorically denied any wrongdoing. He attributed the allegations to "professional rivalries and jealousy" and further characterized the scrutiny as stemming from "anti-Italian American bigotry."
Investigative Outlook
The involvement of the Eastern District of New York and the FBI indicates a significant federal resource allocation toward examining the nexus of political influence and private consulting in Brooklyn. As the investigation proceeds from the subpoena phase, the legal focus will likely center on financial disclosures and the specific nature of services rendered by Oaktree Solutions to determine if any statutory lines were crossed. It is important to note that all individuals, including Mr. Carone, are presumed innocent until proven guilty in a court of law.
