Russell Laffitte, the former CEO of Palmetto State Bank, was found guilty of collaborating with Alex Murdaugh in a multimillion-dollar fraud over the course of several years, and the two were sentenced to 84 months in jail.

In November 2022, Laffitte was found guilty on three charges of misappropriating bank funds as well as three counts of conspiracy to commit wire fraud and bank fraud.

According to FOX Carolina, U.S. District Judge Richard Gergel sentenced Laffitte on Tuesday to 84 months in prison as well as $3.55 million in restitution.

According to the initial indictment, Laffitte earned about $392,000 while serving as the personal representative for six customers of a “personal injury attorney at a law firm in Hampton, South Carolina.”

Laffitte moved personal loans from the six conservator accounts to himself and Murdaugh, according to the prosecution, and utilised the money for personal needs.

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Russell Laffite Wife 

Russell Laffite’s wife is recorded to be Susanne Laffite. He asserts that his wife should receive half of the selling earnings because they jointly bought the house in 2001, it is in both of their names, and she is not accused of any wrongdoing.

In his motion, the alleged banker requests that Susanne Laffitte get more than half of the net earnings, or $250,000.

The SC Attorney General’s Office responded on September 27 by submitting a counter motion in which it claimed that Laffitte’s claim was premature pending the outcome of the accusations and legal actions brought against him. It has been revealed that the couple have a daughter whose name is Carter Laffite.

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