CHARLESTON, S.C. (WCSC) - The conservator for Alex Murdaugh’s money pleaded guilty in state court Thursday.

Russell Laffette, the former Palmetto State Bank CEO, pleaded guilty to conspiracy to commit wire and bank fraud and three counts of misapplication of bank funds back in April.

He pleaded guilty to several state charges and will pay over $3.5 million in restitution using bank stocks he owned as part of his guilty plea.

He faces up to eight years on the state charges and an additional five years of parole.

Laffitte allegedly loaned hundreds and thousands to both himself and Murdaugh from clients Murdaugh was representing back in 2011.

“This was the first main way that Alex Murdaugh was able to steal money from his clients and he depended on Russell Kaffitte to do it,” prosecuto

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