Schools Chancellor David Banks has denied being the target of a federal investigation following a home raid where FBI agents seized his phones. Banks, along with several other officials in Mayor Eric Adams’ administration, had their homes searched and electronics confiscated. Despite the raid, Banks stated that his attorney has assured him that he is not the focus of the probe.
During a press conference addressing the start of the school year, Banks described the FBI raid as a “lesson in life” and emphasized that just because his name was associated with the investigation, it did not mean he was involved. He highlighted the importance of integrity and maintained that he has always lived his life with honesty.
In addition to Banks and his partner, First Deputy Mayor Sheena Wright, other officials such as Banks’ brother Deputy Mayor for Public Safety Phil Banks, senior adviser Tim Pearson, and former NYPD Commissioner Edward Caban were also targeted in the federal investigation. Caban resigned from his position following the raids, and there are reports that another one of Banks’ brothers, Terence Banks, is under scrutiny for his involvement in a possible bribery scheme related to city contracts.
Terence Banks, who previously worked at the MTA, was hired by an education tech company called 21stCentEd in 2022 to help the company expand its presence in public schools. The company secured a meeting with the Schools Chancellor shortly after hiring Terence Banks and has since been awarded $1.4 million in city contracts. This connection has raised questions about potential conflicts of interest and the nature of the relationship between the Banks brothers and the company.
Despite the ongoing federal investigation and the scrutiny faced by multiple officials in the Adams administration, David Banks reiterated his commitment to integrity and emphasized that he has not been informed by the FBI that he is a target of the probe. As the situation continues to unfold, the public will be looking for transparency and accountability from those involved in the federal investigation.