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Description: Charleston, South Carolina criminal law lawyer represented Defendant charged with bank fraud, wire fraud, conspiracy to commit fraud, and three counts of misapplication of bank funds.
Former Palmetto State Bank CEO and alleged Richard "Alex" Murdaugh co-conspirator Russell Lucius Laffitte were indicted on bank fraud, wire fraud, conspiracy to commit fraud, and three counts of misapplication of bank funds.
18 U.S.C. 1344 provides:
Whoever knowingly executes, or attempts to execute, a scheme or artifice—
(1) to defraud a financial institution; or
(2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises;
Outcome: Defendants were found guilty.