New York City schools chancellor steps down amid federal bribery probe

New York City Schools Chancellor David Banks on Tuesday announced that he would leave his post at the end of the calendar year, as multiple federal bribery investigations engulf city hall. 

The FBI raided Banks' home with his partner First Deputy Mayor Sheena Wright several weeks ago, where the agency seized his phone. The investigation centers on allegations that he rigged city contracts and enforcement of nightlife regulation in favor his two brothers, but no formal charges have been filed against Banks so far.

The chancellor's resignation also makes him the fourth high-ranking official in Mayor Eric Adams' administration to resign amid a series of federal investigations. Health Commissioner Ashwin Vasan, former NYPD Commissioner Edward Caban and Adams’ top lawyer Lisa Zornberg have also resigned, according to Politico.

“After nearly 40 years of dedicated service to New York City’s public schools, I have made the decision to retire at the end of this year,” Banks said in a letter to Adams. “I am incredibly proud of what we have accomplished during my tenure and the opportunity to work alongside such dedicated professionals to shape the future of education in our great city is one that I will always cherish."

Adams praised Banks' tenure as chancellor over the past two years, and referred to his departure as a "retirement," making no mention of the probes.

"I am immensely grateful and proud of the work accomplished in New York City Public Schools under Chancellor David Banks,"  Adams said, ABC-7 reported. "On behalf of all New Yorkers, we thank Chancellor Banks for his service, and wish him well in his retirement at the end of the calendar year."

Misty Severi is an evening news reporter for Just The News. You can follow her on X for more coverage.