The man who once headed a highly respected bank in the South Carolina Lowcountry will spend seven years in federal prison for helping convicted murderer Alex Murdaugh steal nearly $2 million from clients’ legal settlements.
The ex-CEO of Palmetto State Bank became the first of the disgraced former attorney’s accomplices to face prison time following the June 2021 shooting deaths that stemmed from sprawling investigations into the Murdaugh family finances.local media reported
But that good standing tanked over his actions as the court-appointed safeguard for settlement money that Murdaugh won for some of his most vulnerable clients. Prosecutors argued he used the role to elaborately pocket tens of thousands of dollars and collect as much as $450,000 in untaxable fees. The position also allowed him to send large chunks toward Murdaugh — who had grown desperate to repay mounting loans as an opioid addiction further depleted his accounts.
Still, Laffitte continued to maintain his innocence. He has insisted for months instead that he didn’t know he was committing crimes and was manipulated by a major customer.The defense sought a reduced sentence of three to five years imprisonment. Relatives, friends and business acquaintances vouched for his character in letters submitted to court.
Prosecutors asked the judge to put Laffitte behind bars for at least nine years. Rebuffing the claims of ignorance, they noted that the diverted checks were made payable to Palmetto State Bank and not Laffitte as the overseer of the funds. The sophisticated move, they argued, intentionally concealed the final destination.
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