We are all familiar with the $10,000 cash transaction limit that triggers certain bank reporting requirements. So, presuming that Eliot Spitzer operated under this threshold, how does an experienced former prosecutor get caught shuffling money around to support a “private matter”?Well, Sharon Imhoff explains it all.
Eliot Spitzer Explained
March 26th, 2008 · 1 Comment
Tags:bank secrecy act·eliot spitzer·money laundering·prostitution
1 response so far ↓
1 Gregory Meinhardt // Apr 25, 2008 at 10:51 am
The law funtioned exactly as it was intended, in my not so humble opinion. You had a bank teller who spotted suspicious activity and reported it -bravo! Prostitution is illegal in our nation’s capital and Spitzer attempted to structure (if not in the legal sense of the word) the payments for that illegal activity to disguise his illegal activity. Only a lawyer attempting to find the forest through the trees would call the teller “mistaken or overzealous”.
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