New York City Schools Chancellor David Banks has declared his retirement at the conclusion of the year amidst an ongoing federal investigation into the administration of Mayor Eric Adams. The announcement, revealed on Tuesday, highlights the fourth high-ranking official to depart from Mayor Adams' administration in recent times. This includes Police Commissioner Edward Caban, who is also entangled in a federal investigation, along with others such as the Mayor's chief counselor, Lisa Zornberg, and city health commissioner, Ashwin Vasan.

Banks, who has served in various roles within the city's public schools for close to four decades, expressed his pride in the accomplishments made during his tenure. In a letter obtained by ABC News, he reflected on the work done alongside dedicated professionals to reform education in the city. The efforts included advancements in special education services, gifted programs, and ensuring career pathways for students. While no indication of personal investigation has been disclosed, the retirement announcement coincides with a tumultuous period involving federal scrutiny within Mayor Adams' administration.

Acknowledging his planned retirement at the end of the year, Banks assured a seamless transition to his successor in the position of chancellor. The timing of this decision raises questions, given the recent federal investigations encompassing city contracts and nightlife regulations, involving Banks and his family. The departure of both Banks and New York City Health Commissioner Dr. Ashwin Vasan, who also resigned on Monday, further intensifies the ongoing saga within the Adams administration. Mayor Adams expressed gratitude towards Banks for his contributions to the city's public education system and praised the transformative initiatives implemented during Banks' tenure.