Gothamist: What Spitzer Was Doing Before Seeing "Kristen"

EastRiver

Tue, 11 Mar 2008 10:00:15 -0500

I don't know how financial institutions track this kind of stuff, but how much money was moving back and forth to raise a red flag with the bank? It looks like Spitzer thought he was being smart by keeping the dollar amounts small - under $10,000 each time - which I believe is what banks are required to report to the government. What caught the bank's attention was the number of transactions because he made it look like he was "structuring" i.e. trying to hide the overall transfer by breaking it up into small amounts. As a public official they thought he might be involved in something like a bribery scandal. Had the money been going to a legitimate destination rather than a shell company the investigation would have ended there.

David McCaffredy

Tue, 11 Mar 2008 09:37:49 -0500

The Times is reporting the bank account investigation began last year. I wouldn't be surprised if Spitzer is a long-time client. http://www.nytimes.com/2008/03/11/nyregion/11inquire.html

Outter Burrougher

Tue, 11 Mar 2008 09:34:34 -0500

VD-Day!

Rocknrope

Tue, 11 Mar 2008 09:33:30 -0500

I don't know how financial institutions track this kind of stuff, but how much money was moving back and forth to raise a red flag with the bank? I would think it would take alot of cash movement to raise those kinds of eyebrows.

zodak

Tue, 11 Mar 2008 09:30:13 -0500

he cheated on his wife & the mother of his 3 girls, with a whore the day before valentine's day. he's so romantic!

EastRiver

Tue, 11 Mar 2008 09:29:20 -0500

To add to what #5 said, at least one article I saw last night said that Spitzer also only used two of the four hours he either booked or paid for. I assume the FBI was already on to Emperors Club before Spitzer's money transfers led them there. The indictment accuses the four people charged with running the ring as far back as 2004.

kearnj

Tue, 11 Mar 2008 09:20:51 -0500

How pathetic.

paul

Tue, 11 Mar 2008 09:07:32 -0500

The prostitute wasn't $4,300. Or rather, there's no way to know now. We do know he had a $400 deposit left over from previous transactions, that he paid $4,300 directly to the prostitute, but that was for his remaining balance from what he mailed in the envelope AND included between $1,500-$2,000 towards a future deposit. So basically, whatever was in that envelope plus the around $2,700, plus the $400 remaining deposit, is how much he paid. And we don't know how much was in the envelope.

glennQNYC

Tue, 11 Mar 2008 09:01:22 -0500

I wonder if his lady of the night swallowed, or was she a spitzer?

babyhitler

Tue, 11 Mar 2008 08:54:51 -0500

funny how a girl on her knees brought Spitzer to his knees. How the Mighty have fallen. I wonder what the NY post copy will be?

eyekantspel

Tue, 11 Mar 2008 08:38:09 -0500

here's another report along the same line. Says the bank reported him for suspicious money transfers, which led to investigation. If that's true, looks like the banks were the ones that got him. Payback's a bitch. http://abcnews.go.com/Blotter/story?id=4424507&page=1

S.D.

Tue, 11 Mar 2008 08:13:47 -0500

Methiinks he's either seeing if this, um, blows over or working a deal where he resigns with no future prosecution. On the news this morning, a reporter on the Today show said that the Feds were gunning for him all along due to unusual "cash expenditures" spotted by the IRS. Is this confirmed?