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Norm Wattenberger: If you've wondered if the gov't ever actually looked at CTRs
It appears that a CTR or SAR was what sparked the investigation of Eliot Spitzer.
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SOTSOG: Details Please.
> It appears that a CTR or SAR was what sparked the
> investigation of Eliot Spitzer.
???
(LOL I guess putting it on his American Express was out of the question).
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Norm Wattenberger: Don't leave home without it
Yes, perhaps he figured that cash would have no record, not realizing that an SAR would be filed and investigated. I don't think people realize these forms are created since they don't see them. If you withdraw $9,500 from a teller and then walk outside and withdraw another $1,000 from an ATM, the back-office should see the two transactions in the overnight run and spit out a CTR. (Hence no structuring.) Of course you would expect a former Attorney General with a history of going after financial wrong-doings to know this. BTW, Spitzer was the guy that stopped Paypal and Citibank from funding online casino accounts.
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Trapper: Link to story
Link to ZDnet story.
From the linked story:
"Spitzer, also known as Client-9, had his own share of financial dealings ($4,300 for future favors) with the prostitution ring, but would have never been caught (he shunned wire transfers) if the operation wasn?t under investigation and his transactions weren?t being monitored. ABC News reported that Spitzer was trying to hide transactions to QAT, the alias of the prostitution ring."
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PunkEye: Re: Don't leave home without it
> Yes, perhaps he figured that cash would have no
> record, not realizing that an SAR would be filed and
> investigated. I don't think people realize these forms
> are created since they don't see them. If you withdraw
> $9,500 from a teller and then walk outside and
> withdraw another $1,000 from an ATM, the back-office
> should see the two transactions in the overnight run
> and spit out a CTR. (Hence no structuring.) Of course
> you would expect a former Attorney General with a
> history of going after financial wrong-doings to know
> this. BTW, Spitzer was the guy that stopped Paypal and
> Citibank from funding online casino accounts.
GOODIE GOODIE GUMDROPS! I AM DELIGHTED THE REPROBATE GOT STUNG.
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AutomaticMonkey: But gambling is immoral!
> Yes, perhaps he figured that cash would have no
> record, not realizing that an SAR would be filed and
> investigated. I don't think people realize these forms
> are created since they don't see them. If you withdraw
> $9,500 from a teller and then walk outside and
> withdraw another $1,000 from an ATM, the back-office
> should see the two transactions in the overnight run
> and spit out a CTR. (Hence no structuring.) Of course
> you would expect a former Attorney General with a
> history of going after financial wrong-doings to know
> this. BTW, Spitzer was the guy that stopped Paypal and
> Citibank from funding online casino accounts.
I'm so happy to have a guy like Spitzer saving us from the vice of gambling. Look at all the money people lose on gambling, money that could be better spent on deviate sexual acts with prostitutes.
After his war on online gaming, I'm surprised Nevada didn't provide him with all expense paid junkets to the brothel of his choice.
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PunkEye: Re: But gambling is immoral!
> I'm so happy to have a guy like Spitzer saving us from
> the vice of gambling. Look at all the money people
> lose on gambling, money that could be better spent on
> deviate sexual acts with prostitutes.
> After his war on online gaming, I'm surprised Nevada
> didn't provide him with all expense paid junkets to
> the brothel of his choice.
How do you know they didn't?
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