The story

New York governor Eliot Spitzer announced his resignation Wednesday amid allegations that he used an exclusive prostitution ring at least eight times in eight months, according to sources familiar with the investigation.

Spitzer, who will step down on Monday, said he wanted to "atone for his private failings" in a brief statement to reporters in New York.

Sources told CNN the probe began when New York's North Fork Bank informed the U.S. Treasury Department about suspicious transfers of money from Spitzer's accounts. Read full article »

CNN's Kevin Bohn contributed to this report

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