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ABC News: Spitzer, Not the Prostitution Ring, Was the Subject of Investigation | 70 comments (70 topical)

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"money transfers" (none / 0) (#13)
by Kathy on Mon Mar 10, 2008 at 07:39:01 PM EST
surely not cash withdrawals?  ATM machines have limits on how much and how often you can access, anyway.  The governor going to a bank and cashing a check made to "cash"?

I assumed he was doing wire transfers, but I am just basing that on my interpretation of the wording.  

[ Parent ]

From what I understood of the complaint (5.00 / 2) (#24)
by litigatormom on Mon Mar 10, 2008 at 07:53:30 PM EST
he was avoiding wire transfers by sending cash through the mails.  ATMs usually limit you to $500 or $1000 in cash withdrawals per day.  So, I'm beginning to have a hard time understanding why a bank would be concerned by  cash withdrawals by Elliot Independently Wealthy Spitzer that necessarily had to be no more than 10% of the $10,000 limit. How could such withdrawals be "structuring"?

[ Parent ]
Actually (none / 0) (#49)
by Andy08 on Mon Mar 10, 2008 at 09:43:34 PM EST
you can increase these limits to much larger sums.
The dafault is 500 or 1000; but you can change that
to be --say- 3500 or more dependig on your account balance.


[ Parent ]

ABC News: Spitzer, Not the Prostitution Ring, Was the Subject of Investigation | 70 comments (70 topical)

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