Telecom CEO Indicted in Fraud Scheme
Update: 2025-12-12
Description
Telecommunications CEO Anthony Tepedino, leading Allstate Sales Group, indicted on corporate fraud charges, accused of funneling millions into shell companies. Federal investigation into alleged influence peddling involving former Mayor Eric Adams officials, including Terence Banks, who consulted for Tepedino. Banks brothers, David and Philip, appointed by Adams, under scrutiny for potential misuse of connections. Federal judge recused due to past role as DOI commissioner. Pearl Alliance website, featuring Tepedinos testimonial, taken down. No comments from attorneys.
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