Latest news with #Laffitte
Yahoo
18-04-2025
- Business
- Yahoo
Former SC banker Russell Laffitte to appear for change of plea hearing
CHARLESTON, S.C. (WCBD) – A former South Carolina banker accused of defrauding victims of millions of dollars is scheduled to appear in a Charleston courtroom. Russell Laffitte was the former CEO of Palmetto State Bank. He was convicted of several bank and wire fraud charges back in November 2022 for helping former attorney and convicted murderer Alex Murdaugh steal millions from victims. Laffitte's conviction was overturned in 2024 based on juror errors during the trial that violated Laffitte's Fifth Amendment rights. On Monday, Laffitte again pleaded guilty to six counts of bank fraud, wire fraud, and misuse of funds related to the charges. The change of plea hearing is set for 10 a.m. at the federal courthouse in downtown Charleston. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-04-2025
- Business
- Yahoo
Alex Murdaugh associate Russell Laffitte pleads guilty to various charges
CHARLESTON, S.C. (WCBD) — After a court of appeals overturned his sentence and conviction, former banker and Alex Murdaugh accomplice Russell Laffitte has agreed to plead guilty to a slew of financial charges. Court records state that Laffitte pleaded guilty to six charges in U.S. District Court: conspiracy to commit wire fraud and bank fraud, bank fraud, wire fraud, and three counts of misapplication of bank funds. If he complies with all the agreement terms, Laffitte is ordered to serve 60 months in prison, and the government agrees not to file additional charges connected to the indictment against him. By entering the plea, Laffitte agreed to pay $3,555,884.80 in criminal restitution and can not participate in affairs with any federal bank or credit union. Laffitte was sentenced in 2023, nearly seven months after he was found guilty of helping convicted murderer and ex-attorney Alex Murdaugh steal from clients. At the time, he served as the CEO of Palmetto State Bank and allegedly used his position to carry out the crimes. Laffitte was fired from the role in early 2022. A court of appeals overturned his sentence in November 2024. A judge vacated the sentence and sent the case to U.S. District Court for further proceedings. Documents show the decision was based on what the ruling described as juror errors during the original trial that violated Laffitte's Fifth Amendment rights. Before the vacate, he was initially sentenced to seven years in federal prison and ordered to pay the same amount in restitution. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
15-04-2025
- Business
- Yahoo
Alex Murdaugh accomplice pleads guilty despite chance at new federal trial, what to know
Despite a high-court-ordered new trial, former Hampton banker and accused Alex Murdaugh fraud accomplice Russell Laffitte has opted to plead guilty to federal charges before standing trial on the first of his state criminal charges later this year. On April 11, Laffitte, the former CEO of Palmetto State Bank in Hampton and a member of a South Carolina Lowcountry legacy banking family, signed a plea agreement admitting guilt in six counts of federal criminal charges in United States District Court, District of South Carolina's Beaufort Division. In exchange for his plea to bank fraud, wire fraud, conspiracy to commit wire fraud and bank fraud, and three counts of misapplication of bank funds, and complying with several other provisions, Laffitte would be sentenced to 60 months (five years) in federal prison, followed by a period of supervised release, as well as fines, fees and restitution. Laffitte was indicted in both state and federal courts in 2022 in connection with a financial crime spree orchestrated by disbarred attorney and convicted fraudster and murderer Richard "Alex" Murdaugh. While awaiting trial on state charges, Laffitte was convicted in November 2022 on several federal charges and sentenced to seven years in federal prison. However, in 2024, a federal appeals court vacated the conviction and sentence based on violations of Laffitte's Fifth and Sixth Amendment rights when a juror was ruled to have been improperly dismissed. Laffitte's second federal trial was scheduled to begin May 5 but will no longer be needed. Laffitte is now set to stand trial on the first of his state criminal indictments sometime in Allendale County in October of this year. By pleading guilty, Laffitte potentially shaved off two years from his federal sentence, but the maximum sentence allowed by law on each charge was 30 years. In exchange for his guilty plea, Laffitte also agreed to forfeit a certain amount of property, to be identified and determined by the federal government, $3,555,884.80 in criminal restitution, a monetary judgment of $85,854.73, and other fines, fees, and court costs. The restitution and judgment must be paid on or before sentencing. Per the agreement, if Laffitte violates any term of this plea agreement, federal prosecutors can seek the maximum punishment allowed by law. Laffitte and one of his attorneys signed Laffitte's plea agreement, Mark C. Moore, on April 11 and by Emily Limehouse, Assistant United States Attorney, on April 14, when it was filed in the federal court's online public index. The agreement awaits final approval by a federal judge, likely Richard Gergel, who oversaw the original conviction. Assistant United States Attorneys Katie Stoughton and Winston Holiday also prosecuted the case. This article originally appeared on Greenville News: Alex Murdaugh accomplice Russell Laffitte pleads guilty, what to know
Yahoo
15-04-2025
- Yahoo
Alleged accomplice accused of helping disgraced lawyer Alex Murdaugh enters plea deal
A former banker and alleged accomplice of disgraced legal scion, Alex Murdaugh, has agreed to a guilty plea in helping with some of his financial crimes. Court records obtained by WCIV show that Russell Laffitte pleaded guilty to several federal fraud charges last week and will spend five years in prison. The records show that Laffitte also agreed to pay $3,555,884.80 in criminal restitution. Additionally, the former bank CEO will not be allowed to work at any federally insured bank or credit union without prior consent. At the time of the crimes, Laffitte served as the CEO of Palmetto State Bank and allegedly used his position to carry out the schemes. He also acted as the conservator or financial representative for Murdaugh's personal injury clients. Alex Murdaugh, Accomplice Ordered To Pay Millions In Money Scheme After Housekeeper's Death Laffitte's family founded the bank in 1907 in the same rural town of Hampton, South Carolina, where the Murdaugh's too would rise to prominence. Read On The Fox News App During his earlier testimony, Laffitte claimed that he simply did what Murdaugh asked of him and was not aware of the lawyer's alleged schemes. In 2022, a jury convicted Laffitte of helping Murdaugh steal around $2 million from clients. Alex Murdaugh May Be Called To Testify In Federal Trial For South Carolina Banker Russell Laffitte: Report Laffitte was sentenced nearly seven months after the conviction to seven years in prison and was ordered to pay $3.5 million in restitution. However, Laffitte's sentence was overturned in November 2024 when an appellate court determined that, during his trial, the removal of two jurors was mishandled and violated Laffitte's Fifth Amendment rights. Laffitte was fired from the bank shortly after the allegations came to light that he helped Murdaugh and Murdaugh's lawyer friend and college roommate, Cory Fleming, steal from a legal client named Hakeem L. Pinckney, a deaf athlete rendered a quadriplegic following a rollover car accident that seriously injured his family members. Alex Murdaugh Sped Up When He Passed Location Where His Slain Wife's Phone Was Found: Witness A judge ordered Murdaugh and Fleming to pay millions to an insurance company in January 2025 after they conspired to steal about $4 million in insurance funds from his housekeeper's family following her death. Murdaugh's housekeeper, Gloria Satterfield, apparently tripped and fell on the front steps of the Murdaughs' home on their South Carolina hunting estate, Moselle, and died later in a hospital. The $4 million Murdaugh stole from the Satterfield family is part of the 100 financial crimes charges filed against Murdaugh involving millions in stolen funds from his former law firm clients. Murdaugh had previously been ordered to serve 40 years for his financial crimes in federal court and 27 years for his financial crimes in state court. Those sentences came on top of his life sentence for killing his wife, Maggie, and youngest son, Paul, in 2021. A Colleton County jury found the disgraced lawyer guilty of shooting Maggie and Paul near dog kennels on the family's hunting estate in June of that year. Prosecutors say he was trying to create a distraction from his mounting financial crimes, which were beginning to come to light around that time. Fox News Digital's Audrey Conklin and Danielle Wallace contributed to this report. Original article source: Alleged accomplice accused of helping disgraced lawyer Alex Murdaugh enters plea deal
Fox News
15-04-2025
- Fox News
Alleged accomplice accused of helping disgraced lawyer Alex Murdaugh enters plea deal
A former banker and alleged accomplice of disgraced legal scion, Alex Murdaugh, has agreed to a guilty plea in helping with some of his financial crimes. Court records obtained by WCIV show that Russell Laffitte pleaded guilty to several federal fraud charges last week and will spend five years in prison. The records show that Laffitte also agreed to pay $3,555,884.80 in criminal restitution. Additionally, the former bank CEO will not be allowed to work at any federally insured bank or credit union without prior consent. At the time of the crimes, Laffitte served as the CEO of Palmetto State Bank and allegedly used his position to carry out the schemes. He also acted as the conservator or financial representative for Murdaugh's personal injury clients. Laffitte's family founded the bank in 1907 in the same rural town of Hampton, South Carolina, where the Murdaugh's too would rise to prominence. During his earlier testimony, Laffitte claimed that he simply did what Murdaugh asked of him and was not aware of the lawyer's alleged schemes. In 2022, a jury convicted Laffitte of helping Murdaugh steal around $2 million from clients. Laffitte was sentenced nearly seven months after the conviction to seven years in prison and was ordered to pay $3.5 million in restitution. However, Laffitte's sentence was overturned in November 2024 when an appellate court determined that, during his trial, the removal of two jurors was mishandled and violated Laffitte's Fifth Amendment rights. Laffitte was fired from the bank shortly after the allegations came to light that he helped Murdaugh and Murdaugh's lawyer friend and college roommate, Cory Fleming, steal from a legal client named Hakeem L. Pinckney, a deaf athlete rendered a quadriplegic following a rollover car accident that seriously injured his family members. A judge ordered Murdaugh and Fleming to pay millions to an insurance company in January 2025 after they conspired to steal about $4 million in insurance funds from his housekeeper's family following her death. Murdaugh's housekeeper, Gloria Satterfield, apparently tripped and fell on the front steps of the Murdaughs' home on their South Carolina hunting estate, Moselle, and died later in a hospital. The $4 million Murdaugh stole from the Satterfield family is part of the 100 financial crimes charges filed against Murdaugh involving millions in stolen funds from his former law firm clients. Murdaugh had previously been ordered to serve 40 years for his financial crimes in federal court and 27 years for his financial crimes in state court. Those sentences came on top of his life sentence for killing his wife, Maggie, and youngest son, Paul, in 2021. A Colleton County jury found the disgraced lawyer guilty of shooting Maggie and Paul near dog kennels on the family's hunting estate in June of that year. Prosecutors say he was trying to create a distraction from his mounting financial crimes, which were beginning to come to light around that time. Stepheny Price is a writer for Fox News Digital and Fox Business. She covers topics including missing persons, homicides, national crime cases, illegal immigration, and more. Story tips and ideas can be sent to
