Russell Laffitte, a former CEO of a prominent Lowcountry bank who pleaded guilty to helping his friend and now-convicted double-murderer Alex Murdaugh steal millions of dollars from clients, will soon head to prison.
In Richland County court Monday, Laffitte was sentenced by Judge Heath Taylor to 13 years that includes eight years of active prison time. As part of Laffitte's negotiated plea deal, the 54-year-old's sentence will run concurrently with his five-year federal sentence handed down early this month that will include time served since his house arrest going back to May 2022.
The plea deal means Laffitte could wrap up his active prison time in 2027.
Out of prison, he will serve five years of probation and do 350 community service hours.
Prior to his sentencing, Laffitte paid more than $3.5 million in bank stock in restitution.
"Justice was done today," state prosecutor Creighton Waters told reporters.
"We hope that this opportunity will have him go from being CEO of a bank to now a convicted felon, a convicted fraudster, and hopefully someone who will think about his abuse of the power that he had," added Waters, a senior assistant deputy attorney general.
Early this month, Laffitte was sentenced to five years in federal prison on bank and wire fraud charges. He pleaded guilty last month to eight counts in state court of criminal conspiracy, breach of trust and computer crimes.
Prosecutors said the former CEO of Palmetto State Bank helped former attorney Murdaugh steal millions from Laffitte's court-appointed clients, who included children.
They said he collected nearly half-a-million-dollars in taxable fees for moving the money.
Laffitte did not speak at his sentencing hearing.
No victims personally spoke but attorney Eric Bland, who represented Alania and Hannah Plyler — two sisters who were underage when Laffitte became their conservator after a deadly car crash — did. Bland, at times looking at and pointing to Laffitte, told Judge Taylor that Laffitte borrowed the sister's money, used their money to pay off a line of credit and spent some of their money to finance a swimming pool.
There's always going to be an Alex Murdaugh, Bland told the court.
It was a "perfect storm," he added because he said Laffitte wanted to travel in those circles.
Laffitte's attorney, Mark Moore, told the judge he disputed comments made in court Monday that his client never apologized. Moore said Laffitte had apologized to his victims in federal court.
"I am deeply sorry that I let you down," Laffitte told them in 2023, The State newspaper reported.
Laffitte's 2022 conviction on federal bank and wire fraud charges was overturned by a federal appeals court. He had been sentenced to seven years in federal prison and had started to serve his sentence when the court reversed the conviction.
Waters told the court Monday that Laffitte did not deserve the sentence he received this month.
"But there's a lot of fatigue out there," he added. "A lot of people who said, 'We just want this over.'"
Laffitte's sentencing does not end all of the Murdaugh legal drama.
But it is likely the last time Laffitte will appear in court.
"The reality is ... criminal cases are a marathon, not a sprint," Waters said. "... As long as I'm still in this office, I'm going to be monitoring that (Laffitte's) probation and making sure that that community service means something."
The Associated Press contributed to this report.
