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New York Comptroller’s Trip to Israel Raised Ethical Concerns, State Commission Said

Tom DiNapoli’s visit was sponsored by a group with financial ties to Israel Bonds, an investment vehicle that has become an issue in his primary.

A New York state oversight board raised ethics concerns about a trip by state Comptroller Tom DiNapoli to Israel that a local pro-Israel Jewish group sponsored.

The revelation comes amid renewed scrutiny of DiNapoli’s spending spree on Israel Bonds, a financial instrument that directly funds the state of Israel. DiNapoli, the administrator of New York pension funds, is facing his first primary fight in 18 years as comptroller, and the branded, non-tradeable assets have become an issue in the race.

The trip was paid for by the Jewish Community Relations Council of New York, which has a financial relationship to Israel Bonds, the organization that issues Israeli government debt securities in the U.S.

According to an itinerary of the trip, DiNapoli was slated to meet with Israel Bonds staffers.

According to an itinerary of the trip, DiNapoli was slated to meet with Israel Bonds staffers.

In a February 2, 2024, letter to the comptroller, the New York State Commission on Ethics and Lobbying in Government approved reimbursement for DiNapoli by the JCRC, but raised concerns that the sponsored trip could create an appearance of potential improper influence.

The ethics commission informed DiNapoli that several commissioners raised concerns “the proposed reimbursement could give reasonable basis for the impression that a person could improperly influence you,” according to the letter, which was obtained through a public records request and shared exclusively with The Intercept.

DiNapoli has been an enthusiastic backer of investing New York pension and investment funds in Israel Bonds. Amid Israel’s genocide in Gaza, efforts by the movement to boycott, divest from, and sanction Israel have gained steam — including campaigns urging divestment from Israeli bonds. DiNapoli tilted in the opposite direction, including a $20 million New York pension fund investment in Israel bonds in the wake of the October 7 attacks.

According to an itinerary of the trip drafted by JCRC and obtained by the group Jewish Voice for Peace New York, DiNapoli was slated to meet with Israel Bonds staffers. In 2024, according to its website, JCRC received financial backing from Israel Bonds — which Jewish Voice for Peace organizers said could hint at a potential improper influence. The Israel Bonds donation was for a float in the 2024 Israel Day parade organized by the JCRC, a spokesperson for the group said. DiNapoli regularly attends the rally, including in 2024.

On Sunday, DiNapoli and other state and local electeds marched in the parade again, joined by an array of extremist Israeli political figures including Bezalel Smotrich, the current finance minister and a far-right champion........

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