[A] report says Spitzer is suspected of “structuring” which is the intentional structuring of financial transactions involving cash in amounts less than $10,000 for the purpose of avoiding the filing of “Currency Transaction Reports” with IRS and FBI.Tonight it seems to me Patterico was right about a target letter.
The [federal prosecutors] indicted the prostitution ring based on what they uncovered in looking into Spitzer, but the facts suggest to me that Spitzer has received a target letter indicating that he is the target of a federal criminal investigation for his conduct.
From wcbstv.com this afternoon:
Gov. Eliot Spitzer is set to resign Wednesday, sources tell CBS 2 Political Reporter Marcia Kramer, but insiders say he's going to use the resignation as a bargaining chip to cut a deal with federal prosecutors and he won't step down until that happens.Whoa, Nelly. What wcbstv.com should have said was: "the deal they may cut would help determine Spitzer’s future, but as of now there’s been no deal announcement from Garcia or Hirshman."
The talks have been going on since Tuesday morning.
The governor's fate rests in the hands of two people: U.S. Attorney Michael Garcia and Michele Hirshman, the head of his legal defense team. The deal they cut will determine Spitzer's future.
Back to wcbstv.com:
Criminal law experts say Spitzer will definitely have to resign the governorship and that what's involved in the deal is key.I'll bet most of you think there'll be more than "a lot of public criticism" if Spitzer is let off with just his resignation and a public apology about what he's called a "private matter."
So what's the best that could happen to him?
"No charges, absolute resignation, and contrition. I think the worst that could happen is a felony plea on one of a number of charges that they could lodge against him," said noted criminal attorney Ronald Fischetti, who has often had to negotiate with feds on behalf of clients. . . .
The very real problem for Spitzer, as he well knows having been a prosecutor and the former Attorney General is that he could be charged with a number of things that carry jail time: tax evasion, money laundering, bringing a prostitute across state lines from New York to Washington.
He also has another problem in the negotiations with Garcia, who could be feeling pressure to throw the book at him.
"It's very important that [Garcia] expresses to the public that everyone is treated alike and if he doesn't charge someone who was the Attorney General and prosecuted crimes, he will be subject to a lot of public criticism that he let [Spitzer] go because he was the governor," said Fischetti.
Patterico's post is here and the wcbstv.com story's here.