Nov 14, 2024
CHARLESTON, S.C. (WCBD) – A court of appeals has overturned the sentence and conviction of Russell Laffitte, the former banker and Alex Murdaugh accomplice who was sent to prison for a slew of financial-related crimes, according to new court filings. A judge vacated the sentence this week 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. Laffitte was sentenced to 84 months, or seven years, in federal prison and ordered to pay over $3 million in restitution after being found guilty in August 2023 of helping convicted murderer Alex Murdaugh steal from clients. “Russell Laffitte used his position of power and trust to steal from unusually vulnerable victims,” said U.S. Attorney Adair F. Boroughs following the sentencing last year. “His crimes undermine the public’s trust in the judicial and banking systems, and we are grateful to the FBI, South Carolina Attorney General’s Office, and South Carolina Law Enforcement Division for their partnership in ensuring he is held accountable.” At the time, Laffitte was serving as the CEO of Palmetto State Bank and was accused of using his position at the bank to carry out the crimes. He was charged with six federal indictments connected to bank fraud, wire fraud, conspiracy, and three counts of misapplication of bank funds. Laffitte previously appealed his prison sentence. They were denied. DEVELOPING…
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