12/12/2011 01:49 pm ET

Clarence Cash, Ex-NYPD Cop, Confesses To Murder Of Wife Tracey Young

An ex-cop turned himself in Sunday for the shooting murder of his wife in their Queens apartment.

Clarence Cash, 49, walked into the Midtown South stationhouse at 6 AM with a bag of guns, and admitted to shooting Tracey Young, his wife of two years.

Young, 42, one of the state's top criminal investigators for the tax and finance department, died from four bullet wounds in the torso and three in the face, inside the couple's eighth-floor condo in Briarwood on 84th Drive, just after 11 PM Saturday.

What had started as a date-night, according to The New York Post, turned deadly when Young and Cash got into an argument over holiday money:

Building resident Maple Dong, 28, said Young had recently told her Cash "bought a lot of gifts for her for Christmas," including the handbag.

"She said, 'I asked for it, and he bought it for me,'" Dong recalled.

But Cash apparently had trouble affording it -- he'd been slapped with federal tax liens, multiple civil judgments and warrants from New York state for failing to pay back taxes dating to at least 1998, public records show.

Cash confessed to authorities that what had started as a romantic night for the pair went horribly awry within minutes, Hanophy said.

In the heat of the argument, Young "mushed" Cash in the face. Cash, a body-builder, retaliated with a punch and when Young said that she was going to leave him, Cash took out his gun and shot her.

Cash-- who retired from the 32nd Precinct in Harlem in 2006 and was working part time escorting prisoners from the Pearl Street courthouse to their holding cells-- then drove out to Rockaway Beach, where he considered suicide, before turning himself into authorities.

Young's mother, according to a relative, was also murdered 31 years ago.

Cash is charged with murder and criminal possession of a weapon.