Breaking from the NY Times:
Gov. Eliot Spitzer has informed his most senior administration officials that he had been involved in a prostitution ring, an administration official said this morning.
Mr. Spitzer, who was huddled with his top aides early this afternoon, had hours earlier abruptly canceled his scheduled public events for the day. He is set to make an announcement about 2:15 this afternoon at his Manhattan office.
Bonus hypocrite angle:
As attorney general, he also had prosecuted at least two prostitution rings as head of the state's organized crime task force.
In one such case in 2004, Mr. Spitzer spoke with revulsion and anger after announcing the arrest of 16 people for operating a high-end prostitution ring out of Staten Island.
""This was a sophisticated and lucrative operation with a multitiered management structure," Mr. Spitzer said at the time. "It was, however, nothing more than a prostitution ring."
MORE: Fox News just reported that Spitzer will resign.
MORE II: ….and be indicted!
MORE III: Spitzer just said in his press conference that he "acted in a way that violated my obligation to my family," but did not say he'd resign.