KSK Construction in downtown NYC Mayor Eric Adams campaign finance investigation received millions from the Turkish government
The construction company at the center of kickback allegations against New York Mayor Eric Adams received millions of dollars in funding directly from the Turkish government, it has been revealed.
Adams has been under intense scrutiny since last week when the FBI raided the Brooklyn home of his chief fundraiser Briana Suggs, 25, over a series of alleged donations to KSK Construction’s 2021 mayoral campaign.
KSK co-owner Erden Arkan raised nearly $70,000 at a fundraiser for Adams in May 2021, as the company secured a slew of development contracts in the city.
It emerged that the company and its subsidiaries secured at least $14.9 million in loans and a $7.4 million line of credit for their New York purchases from Vakiflar Bankasi, a bank almost wholly owned by the Turkish government.
The Democratic mayor has distanced himself from the Williamsburg-based construction company, insisting that he has had no relationship with it “as far as I know.”
New York Mayor Eric Adams has been under intense scrutiny since last week when the FBI raided the Brooklyn home of his chief fundraiser Briana Suggs, 25, over a series of alleged donations from KSK Construction to the 2021 mayoral campaign.
Erden Arkan (left), the globe-trotting 74-year-old owner of KSK Construction Group with colleagues at a project in Manhattan
Turkey’s Recep Erdoğan government has funneled millions of dollars to KSK as it secured a large number of construction contracts in New York’s five boroughs
“I don’t know this organization at all,” Adams said this week.
“It’s one of many different groups and organizations contributing to the campaign.”
But it is nearly identical donations of about $1,250 to Adams’ campaign by 11 KSK employees on the same day in 2021 that have sparked accusations that “straw donors” were used to disguise the origins of the money. caught the attention of the FBI.
The Turkish bank has been lending money to the company for more than ten years Daily beast reported, as well as numerous associated directors and subsidiaries.
According to the bank’s website, Turkey’s sovereign wealth fund, managed by President Recep Erdoğan’s government, holds almost three-quarters of the bank’s shares, while the country’s Ministry of Finance and Finance has a stake of almost 15 percent.
Adams revealed yesterday that he had been in contact with Suggs since the raid on her home.
“I have been in communication with her since this incident occurred,” Adams said, noting that his legal team was also in contact with her.
The FBI has seized phones, laptops and documents as part of their investigation into Adams’ 2021 campaign.
Arkan, 74, co-owner of KSK Construction Group, pictured enjoying a lavish vacation with his teacher, Itir
A June 2022 post showing Erden sitting regally atop a marble throne at the Aphrodisia archaeological site in Turkey, with his wife captioned: “#Theking #andhisserf”
In a strange twist, it emerged on Friday that a welfare check had been requested for Suggs’ home on Wednesday evening – just hours before the FBI raid.
Currently, no charges have been filed against KSK, Adams, Suggs or anyone else involved in the case.
Records show Arkan was also an avid personal supporter of Adams, donating $1,500 to the former operative’s 2021 campaign.
Despite the ongoing investigation, Mayor Adams has strongly denied any wrongdoing and expressed confidence in Suggs, who managed to raise $18 million for his 2021 campaign.
He emphasized that his campaign would fully cooperate with the investigation.
“Where there’s smoke, there’s not always fire,” Adams said. “She (Suggs) did a great job.”
When news of the raid broke, Mayor Adams was about to begin a series of meetings with other mayors of major cities in Washington, DC.
He hurriedly returned to New York and left the meetings.
“I was notified by our team that something was going on with the campaign staffer, and I wanted to be here to make sure we were in full compliance. I have one of the best compliance teams that any campaign has ever put together,” Adams said.
Agents searched the home of Brianna Suggs (left), a campaign consultant and one of his top fundraisers. In a television interview, Adams said he believed there was no misconduct in his 2021 campaign, stating: ‘Sometimes there’s smoke without fire’
Suggs is the latest Adams employee — and one of many people involved in his fundraising efforts — to face legal trouble in recent months.
In July, six people were charged in a conspiracy scheme by straw donors to funnel tens of thousands of dollars to Adams’ campaign.
The former city buildings commissioner under Adams, Eric Ulrich, was also indicted in September for using his position to dole out favors, including access to the mayor, in exchange for cash and other bribes. Ulrich and his six co-defendants have pleaded not guilty.
Adams has distanced himself from both cases, which were brought in state court and were not directly related to his campaign or administration.