Attorney: Former bank CEO, Murdaugh associate, post bond
Published: Jul. 27, 2022 at 5:28 PM EDT|Updated: Jul. 27, 2022 at 5:31 PM EDT
CHARLESTON, S.C. (WCSC) - During an arraignment in Charleston Wednesday, bond was set for a former Palmetto State Bank CEO.
Russell Laffitte, a former associate of Alex Murdaugh, faces a five-count indictment from a federal grand jury.
The former banker is charged with conspiracy to commit wire fraud, bank fraud and misapplication of bank funds.
His bond has been set at $500,000 and he has already posted that amount, according to Eric Bland, an attorney involved in the case.
Laffitte is accused of helping Alex Murdaugh and suspended attorney Cory Fleming divert nearly $2 million from clients in three separate instances.
He is ordered to house arrest and must give up his passport.
Copyright 2022 WCSC. All rights reserved.
/cloudfront-us-east-1.images.arcpublishing.com/gray/ZZQSH4SW5FAC5FCDNICARF4P3Q.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/LTJR3BWYDFCAXKBQKB5HCEXLSA.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/23IWIEH2NFCVPN3NRFNWGDVYTY.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/QUDEOCHRGNBKDIVNPTJDR5GNKA.png)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/gray/OEMERYFJ5JH7VE4FAC2HH54N2I.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/BDPN6A4YHBCB5HCPTTX4ATG5EA.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/DX4CUDQUVNAR5DU5BPERGBBHXY.jpg)
:quality(70)/cloudfront-us-east-1.images.arcpublishing.com/gray/ZTFGLHGR65HVVPOKVGRHESRZMI.jpg)
/cloudfront-us-east-1.images.arcpublishing.com/gray/OJ5PMPM6RBF4ZCTQYKWJMRRGAI.png)
/cloudfront-us-east-1.images.arcpublishing.com/gray/O5VGJ5HPRJEKPOYSVGIARELE6U.jpg)