Possible bribery scheme involving NYC contracts, consulting firm under investigation, report says
NEW YORK — There's new information on one of the federal investigations into Mayor Eric Adams' administration.
According to the New York Times, the investigation into Philip Banks, the deputy mayor for public safety, involves a bribery scheme and his brother, Terence Banks, who runs a consulting business.
CBS News New York has learned that Terence Banks' firm, the Pearl Alliance, represents companies that have contracts worth hundreds of thousands of dollars with a number of city agencies.
Last week, federal agents raided the homes of Philip Banks and Schools Chancellor David Banks, who is also a brother of Philip and Terence.
The Banks brothers have said they are cooperating with the investigation.
