Alex Murdaugh alleged associate pleads guilty to various charges
A former banker and alleged accomplice of disgraced legal scion, Alex Murdaugh, has recently agreed to a guilty plea in connection with some of his financial crimes. Russell Laffitte, who previously served as the CEO of Palmetto State Bank, pleaded guilty to several federal fraud charges and has been sentenced to five years in prison. Additionally, he has agreed to pay $3,555,884.80 in criminal restitution and will not be allowed to work at any federally insured bank or credit union without prior consent.
Laffitte, whose family founded the bank in 1907 in the same rural town of Hampton, South Carolina, where the Murdaugh family also rose to prominence, allegedly used his position to help Murdaugh carry out financial schemes. Laffitte also acted as the conservator or financial representative for Murdaugh’s personal injury clients. During his testimony, Laffitte claimed that he was simply following Murdaugh’s instructions and was not aware of the full extent of the lawyer’s alleged schemes.
In 2022, Laffitte was convicted of aiding Murdaugh in stealing around $2 million from clients. He was sentenced to seven years in prison and ordered to pay $3.5 million in restitution. However, his sentence was overturned in November 2024 due to mishandling of juror removal during his trial, which violated his Fifth Amendment rights.
Laffitte was fired from the bank after allegations surfaced that he helped Murdaugh and Murdaugh’s lawyer friend, Cory Fleming, steal from a legal client named Hakeem L. Pinckney, a deaf athlete rendered quadriplegic following a rollover car accident. In a separate case, Murdaugh and Fleming were ordered to pay millions to an insurance company in January 2025 after conspiring to steal about $4 million in insurance funds from the family of Murdaugh’s housekeeper, Gloria Satterfield, following her death.
Murdaugh, who has been involved in numerous financial crimes totaling millions of dollars, was previously sentenced to 40 years in federal court and 27 years in state court. These sentences were in addition to a life sentence for the murder of his wife, Maggie, and youngest son, Paul, in 2021. The disgraced lawyer was found guilty of shooting Maggie and Paul near dog kennels on the family’s hunting estate in an attempt to distract from his mounting financial crimes.
The complex web of financial crimes and legal proceedings involving Alex Murdaugh and his accomplices continues to unfold, shedding light on the depths of corruption and deceit within the legal and financial industries. The guilty plea and sentencing of Russell Laffitte serve as a stark reminder of the consequences of participating in illegal activities and the importance of upholding integrity and honesty in all professional endeavors.
