The construction company at the center of bribery 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 top fundraiser Briana Suggs, 25, over a series of alleged donations from KSK Construction to the mayor’s 2021 mayoral campaign.
KSK co-owner Erden Arkan raised nearly $70,000 at a fundraiser for Adams in May 2021 as the company won numerous development contracts across the city.
It has emerged that the company and its subsidiaries have secured at least $14.9 million in loans and a $7.4 million line of credit for their purchases in New York from Vakiflar Bankasi, a bank that is almost entirely owned by the Turkish government.
The Democratic mayor has distanced himself from the Williamsburg-based construction company, insisting he had no connection to it “to my knowledge.”
NYC Mayor Eric Adams has been under intense scrutiny since last week when the FBI raided the Brooklyn home of his top fundraiser Briana Suggs, 25, over a series of alleged donations from KSK Construction to the mayor’s 2021 mayoral campaign.
Erden Arkan (left), the globe-trotting 74-year-old owner of the KSK Construction Group, with colleagues at a project in Manhattan
Turkish Prime Minister Recep Erdoğan funneled millions of dollars to KSK when the company won numerous construction contracts in the five boroughs of New York
“I don’t know this organization at all,” Adams said this week.
“It is one of the many different groups and organizations contributing to the campaign.”
However, they involve nearly identical donations of around $1,250 to Adams’ campaign by 11 KSK employees on the same day in 2021, which have led to allegations that “straw donors” were used to conceal the money’s origins , and this is also believed to have caught the attention of the FBI.
As Daily Beast reported, the Turkish bank has lent money to the company for more than a decade, as have numerous affiliated directors and subsidiaries.
According to the bank’s website, Turkey’s sovereign wealth fund, run by President Recep Erdoğan’s government, controls nearly three-quarters of the bank’s shares, while the country’s Finance and Finance Ministry holds a nearly 15 percent stake.
Adams revealed yesterday that he had been in contact with Suggs since the raid on her home.
“I have been communicating with her since this incident,” Adams said, noting that his legal team has also been in contact with her.
The FBI seized phones, laptops and documents as part of its 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 majestically on a marble throne at the Aphrodisia archaeological site in Turkey, which his wife captioned, “#Theking #andhisserf.”
In a strange twist, it emerged Friday that a welfare check had been filed for Suggs’ home on Wednesday evening – just hours before the FBI’s dawn raid.
At this time, no charges have been filed against KSK, Adams, Suggs or anyone else involved in the case.
Records show Arkan was also an ardent personal supporter of Adams, donating $1,500 to the former police officer’s 2021 campaign.
Despite the ongoing investigation, Mayor Adams has vehemently denied any wrongdoing and expressed confidence in Suggs, who managed to raise $18 million for his 2021 campaign.
He stressed that his campaign would cooperate fully with the investigation.
“Where there is smoke, there is 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 major city mayors in Washington, DC
He hurriedly returned to New York and broke off the meetings.
“Our team notified me that something was happening with campaign staff, and I wanted to be here to make sure we were in full compliance.” “I have one of the best compliance teams to ever put together a campaign,” said Adams.
Agents searched the home of Brianna Suggs (left), a campaign adviser and one of his top fundraisers. In a television interview, Adams said he believes there was no wrongdoing in his 2021 campaign, stating: “Sometimes there is smoke without fire.”
Suggs is the latest Adams associate — and one of several people involved in his fundraising efforts — to face legal trouble in recent months.
In July, six people were charged with a straw donation conspiracy to funnel tens of thousands of dollars to Adam’s campaign.
Former city public works commissioner under Adams, Eric Ulrich, was also indicted in September for using his position to distribute favors, including access to the mayor, in exchange for cash and other bribes. Ulrich and his six co-defendants pleaded not guilty.
Adams has distanced himself from both cases, which were heard in state court and had no direct connection to his campaign or administration.