Adrian
In a significant development in the ongoing legal saga surrounding disgraced attorney ALEX MURDAUGH, former banker and alleged accomplice RUSSELL LAFFITTE has agreed to a guilty plea for his role in a series of financial crimes. According to court records obtained by WCIV, Laffitte pleaded guilty to multiple federal fraud charges last week, resulting in a five-year prison sentence and an order to pay $3,555,884.80 in criminal restitution. Additionally, Laffitte is barred from working at any federally insured bank or credit union without prior approval.
At the time of the crimes, Laffitte served as the CEO of Palmetto State Bank, a family-founded institution established in 1907 in Hampton, South Carolina—the same town where the Murdaugh family rose to prominence. Prosecutors allege that Laffitte abused his position to facilitate financial schemes, including acting as the conservator or financial representative for Murdaugh’s personal injury clients. During earlier testimony, Laffitte claimed he was unaware of Murdaugh’s alleged fraudulent activities and simply followed his instructions.
Laffitte’s legal troubles began in 2022 when a jury convicted him of aiding Murdaugh in stealing approximately $2 million from clients. He was initially sentenced to seven years in prison and ordered to pay $3.5 million in restitution. However, in November 2024, an appellate court overturned the sentence, citing improper handling of jury removal during the trial, which violated Laffitte’s Fifth Amendment rights.
Laffitte’s involvement in the scandal was further highlighted when allegations surfaced that he assisted Murdaugh and his lawyer friend CORY FLEMING in stealing from HAKEEM L. PINCKNEY, a deaf athlete who became a quadriplegic after a car accident. Shortly after the allegations emerged, Laffitte was fired from Palmetto State Bank.
The case also ties into the tragic death of Murdaugh’s housekeeper, GLORIA SATTERFIELD, who died following a fall at the Murdaugh family’s hunting estate, Moselle. In January 2025, a judge ordered Murdaugh and Fleming to pay millions to an insurance company after they conspired to steal $4 million in insurance funds meant for Satterfield’s family. This incident is among the 100 financial crime charges filed against Murdaugh, involving millions stolen from his former law firm clients.
Murdaugh is currently serving a life sentence for the 2021 murders of his wife, MAGGIE MURDAUGH, and son, PAUL MURDAUGH, on the Moselle estate. Prosecutors allege the killings were an attempt to distract from his escalating financial crimes.
This case continues to captivate the public as new details emerge, shedding light on the intricate web of fraud and deceit orchestrated by Murdaugh and his associates.
**Sources:**
[WCIV](https://www.wciv.com)
[Fox News Digital](https://www.foxnews.com)
