The CEO of a telecommunications construction firm entangled in a federal influence-peddling investigation targeting two of Mayor Eric Adams’ former top officials — David and Philip Banks — and their brother, Terence, was indicted Thursday on corporate fraud charges.
Anthony Tepedino, CEO of Allstate Sales Group (ASG), was a client of Terence Banks’ consulting firm, Pearl Alliance. Banks firm is the subject of an ongoing probe by the Manhattan U.S. Attorney Jay Clayton’s public corruption unit.
The indictment announced by Clayton charging Tepedino with steering millions of dollars from his firm into shell companies he controlled noted that the alleged fraud scheme came to a sudden halt on Sept. 4, 2024 — the day the FBI seized the cell phones of Tepedino and “others.” That same day, the FBI and city Department of Investigation (DOI) confiscated the phones of Terence, David and Phil Banks in a probe focusing on whether Terence won clients by promoting his connections to his siblings.
Prosecutors in Clayton’s office in recent months have also questioned witnesses about Terence Banks’ hiring by ASG…