Alex Murdaugh’s money man pays the price after admitting role in million-dollar crime scheme
Share this @internewscast.com

A former banker and accomplice of Alex Murdaugh has learned his fate after pleading guilty to eight felony charges stemming from financial crimes committed alongside the convicted murderer. 

A South Carolina judge sentenced Russell Laffitte, the former CEO of Palmetto State Bank, to 13 years in state prison on Monday, according to FOX 57. 

The sentence comes after prosecutors said Laffitte exploited his roles as a court-appointed conservator for Murdaugh’s personal injury clients and chief of Palmetto State Bank to funnel over $2 million in fraudulent transfers from clients to Murdaugh and himself, the outlet reported. Laffitte would then label the transfers as “loans,” while also cashing in on tens of thousands in conservator fees from his victims without providing basic fiduciary services. 

Alex-Murdaugh-Financial-Crimes

Alex Murdaugh, convicted of killing his wife, Maggie, and younger son, Paul, in June 2021, sits during a hearing on a motion for a retrial, Tuesday, Jan. 16, 2024, at the Richland County Judicial Center in Columbia, S.C. 

Prosecutors reportedly revealed Laffitte’s misappropriation of funds allowed Murdaugh to pay off fraudulent loans and personal debts, further cementing that his assistance was pivotal in allowing Murdaugh to keep his financial crimes in motion over the course of several years. 

“Laffitte was responsible for loaning so much money to Murdaugh that Murdaugh became too big to fail,” prosecutor Creighton Waters said, according to FOX 57. “Alex was so much in hock to Russell that Russell was in hock to Alex.” 

Waters did not immediately respond to Fox News Digital’s request for comment. 

Murdaugh is currently serving life in prison for the 2021 shotgun murders of his wife and son on the family’s sprawling Lowcountry estate. 

Share this @internewscast.com
You May Also Like
Family blocked from Gottleib Hospital visit now looking for Ricardo Aguayo Rodriguez, arrested by Border Patrol in Melrose Park

Family’s Heartache: Hunt for Ricardo Aguayo Rodriguez After Border Patrol Arrest at Melrose Park

In Melrose Park, Illinois, the family of Ricardo Aguayo Rodriguez believes he…
Donte DiVincenzo reflects on ‘really good’ Knicks tenure

Donte DiVincenzo Shares Insights on His Successful Time with the Knicks

Donte DiVincenzo may have had just a single season stint with the…
Woman found dead at Disney’s Pop Century Resort in fourth tragic incident in a month

Fourth Tragic Incident in a Month at Disney’s Pop Century Resort: Woman Found Deceased

On Sunday, a woman in her 40s tragically passed away after being…
Questions grow about soldier’s Tesla Cybertruck attack at Trump Las Vegas hotel

Increasing Scrutiny Surrounds Soldier’s Alleged Tesla Cybertruck Incident at Trump Hotel in Las Vegas

The enigma behind the Tesla Cybertruck explosion near the Trump International Hotel…
Election Day: What's on the ballot in the first general election since Donald Trump became president

Unpacking the Ballot: Key Issues in the First General Election Post-Trump Era

One year has passed since Donald Trump returned to the White House,…
Suspects in foiled Halloween terror plot pictured practicing at Michigan gun range: FBI

FBI Unveils Images of Halloween Plot Suspects at Michigan Shooting Range

EXCLUSIVE TO FOX: Two men from Michigan have been charged with plotting…
Las Vegas police roll out Tesla Cybertrucks worth up to $115K each after donation from tech billionaire

Las Vegas Police Integrate Tesla Cybertrucks into Fleet, Following Generous Donation from Tech Billionaire

The Las Vegas Metropolitan Police Department (LVMPD) is set to introduce the…
Hegseth praises South Korea's plans to raise its military spending and boost defense capabilities

Hegseth Applauds South Korea’s Strategy to Enhance Military Budget and Strengthen Defense

In a recent address from Seoul, U.S. Defense Secretary Pete Hegseth expressed…
Midterm election 2026 news: Congressman Jesús 'Chuy' García will not seek reelection in Illinois' 4th Congressional District

Illinois’ 4th District Shake-Up: Congressman Jesús ‘Chuy’ García Announces Decision to Step Down Ahead of 2026 Midterms

CHICAGO (WLS) — A significant shift is underway in the composition of…
New York City's mayoral election: Letters

Key Insights from New York City Mayoral Candidates Revealed

The Issue: Polls show Zohran Mamdani in the lead as New Yorkers…
Avalanche in Nepal kills 7 climbers on Mount Yalung Ri

Tragic Avalanche on Mount Yalung Ri Claims Lives of Seven Climbers in Nepal

An avalanche on Monday devastated a camp in Nepal, claiming the lives…
Are banks open on Election Day? What's open and closed across the country

Election Day: Find Out Which Banks and Services Are Open Nationwide

Curious about how Election Day might affect mail services, financial institutions, the…