Former Banker Russell Laffitte’s Conviction Overturned
Former banker Russell Laffitte, who is known for his connections to Alex Murdaugh, had his federal conviction overturned by the 4th U.S. Circuit Court of Appeals on Thursday. This decision opens the door for a new trial.
According to Adair Boroughs, the U.S. Attorney for the District of South Carolina, this ruling does not affect the ongoing charges against Laffitte. He noted, “The Fourth Circuit ordered a retrial based only on the district court’s replacement of a deliberating juror. This ruling has no impact on the charges against Laffitte moving forward. We respect the court’s decision and stand ready to prove Laffitte’s guilt beyond a reasonable doubt a second time.”
In August 2023, Laffitte was sentenced to seven years in prison and was ordered to pay over $3.5 million in restitution. He had been convicted the previous November on six felony charges related to financial crimes. Authorities accused him of helping Murdaugh, a convicted murderer, steal money from his clients while Laffitte served as a high-ranking official at Palmetto State Bank.
The appeals court found that the removal of a juror during the initial trial violated Laffitte’s Sixth Amendment right to an impartial jury. As a result, he will face a new trial.
Currently, Murdaugh is serving two consecutive life sentences for the murders of his wife, Maggie, and son, Paul, who were tragically found dead on June 7, 2021.
