Terence Banks started a consulting firm and secured clients who operate with city agencies managed by his siblings.
Federal agents are currently looking into a potential bribery scandal related to New York City contracts and a consulting firm owned by the siblings of two high-ranking officials in Mayor Eric Adams’ administration. The investigation involves seizing the phones of the officials and the consultant to gather evidence of bribery, fraud, and violations of the Travel Act, which covers a broad range of criminal activities such as extortion.
The inquiry is still in its early stages, and details about the alleged bribery scheme and the individuals involved are not yet clear. However, the focus seems to be on the consulting firm and its connections. This investigation is separate from another corruption probe involving the New York police commissioner and his brother, whose phones were also confiscated, leading to calls for the commissioner’s resignation.
The federal agents’ actions became public when they confiscated the phones of key officials, including the schools chancellor, David Banks, the deputy mayor for public safety, Philip B. Banks III, and their brother, consultant Terence Banks. The commissioner has not resigned despite the ongoing investigation.
The potential bribery scandal is a significant development in the ongoing efforts to combat corruption in New York City. Stay tuned for more updates as the investigation progresses.
Source: The NY Times
