in an apparent effort to evade federal regulations requiring that transactions involving $10,000 or more be disclosed to the government, Spitzer broke up the money into a series of smaller transfers on numerous occasions over at least a year, sources said.
Despite that, Spitzer got worried that he could be tied to the transfers and asked the bank to remove his name from the transactions. The bank reportedly refused, not only because of regulations, but also because the money had already gone out.
The unidentified bank then notified the Internal Revenue Service, as required by law, that Spitzer had sent more than $10,000 in a way that appeared designed to avoid disclosure requirements, the report said.
A law-enforcement source told The Post yesterday that financial transactions are "the crux of the investigation" into Spitzer, and that federal probers do not yet know the full extent of his possible chicanery.
"They've got to go through the money trails," the source said.
