US Attorney Emily Limehouse doesn’t appear to be pulling any punches in a sentencing memorandum filed ahead of the August 1 hearing where disgraced banker Russell Laffitte will learn his sentence. 

Laffitte is expected to spend anywhere from 9 to 11.4 years in prison after he was found guilty in November 2022 on six separate counts relating to financial crimes, including three counts of misapplication of bank funds, bank fraud, wire fraud, and conspiracy to commit wire fraud and bank fraud through his role as CEO at Palmetto State Bank. 

In the memorandum, federal prosecutors noted Laffitte’s failure to accept any responsibility for the crimes he was convicted of. 

According to reporting from journalist Drew Tripp, the government is seeking more than $3 million dollars in damages including $1,207,016.14 for Parker Law Group — the organization formerly known as PMPED — and $2,348,868.66 for PSB. 

Laffitte is an alleged coconspirator of convicted killer and former attorney Alex Murdaugh; his financial crimes, according to the government’s case against him, were part of an elaborate ruse to steal money from multiple plaintiffs that Murdaugh represented in civil court. In all, Laffitte and Murdaugh are allegedly responsible for at least $3,784,368.98 in losses to the three victims and the bank that Laffitte’s family has owned and operated for decades, 

Murdaugh is facing 22 federal charges in connection with the financial crimes allegedly committed with Laffitte beginning in 2011. Murdaugh’s indictment references alleged financial crimes dating back to 2005.

Laffitte, who has been free on bond since his Summer 2022 federal indictment, will appear in court at 10 a.m. on Aug. 1, 2023, and you can expect updates from True Sunlight creator Mandy Matney and True Sunlight co-host Liz Farrell on Twitter as soon as they become available. 

You can hear more information about Russell Laffitte in this True Sunlight playlist. 

Contact Beth Braden

Beth Braden

Beth Braden is an award-winning journalist with experience covering government, education and crime and courts for more than 10 years. In addition to following breaking news and writing feature stories about life in her home state of Tennessee, her by-line appears on several internationally known websites.

Beth is passionate about communicating complex information in an easy-to-understand manner and she loves to pore over public records and court documents as she seeks out patterns and context to share with her audience. In her spare time, she enjoys quilting, strange museums, and good cups of coffee.

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