Bank loaned Alex Murdaugh money when his account was in negative six figures: Court – Crime Online

Court documents filed Thursday alleged that a bank often allowed South Carolina attorney Alex Murdaugh to overdraw his account, sometimes in the six-figure range.

FITS News reported that Palmetto State Bank apparently allowed Murdaugh to maintain his accounts negative for several years. Despite this, the bank allegedly granted Murdaugh large loans which he did not repay on time.

Authorities claimed that Murdaugh’s banking behavior should have appeared in anti-fraud reports, but that never happened. According to FITS News, in July 2021, Palmetto State Bank extended Murdaugh a $750,000 line of credit — even though his account was negative $162,014.03.

Murdaugh’s relationship with Russell Laffitte, former CEO of Palmetto State Bank, has come under scrutiny. Laffitte resigned in January before being charged with 21 counts of allegedly conspiring with the attorney to steal $2 million.

Murdaugh, who remains jailed, was arrested in October for allegedly stealing $4.3 million from the estate of his former housekeeper, Gloria Satterfield, who suffered a fatal fall on her property in February 2018. In this case, he is accused of stealing insurance payments that were intended for Satterfield’s family.

At the time of his arrest in October, Murdaugh was out on bail and undergoing treatment at a Florida rehabilitation center. Murdaugh went to Florida after surviving an alleged suicide-for-hire plot that involved a client shooting him in the head so his surviving son would receive a $10 million life insurance payout. The September 3 incident resulted in him being charged with insurance fraud.

A day before the shooting, Alex was kicked out of his family law firm amid allegations that he embezzled funds. He announced he was entering rehab two days after the shooting.

Murdaugh has since been charged with 74 counts as he was accused of stealing money from a large number of clients and his former law firm. He has not been charged for the murder of his wife and son. He remains jailed on $7 million bail.

No suspects have been arrested in connection with the June 7 shooting deaths of Maggie’s wife and son, Maggie and Paul, who were killed at the 1,770-acre family lodge in Colleton County.

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[Featured image: Alex Murdaugh/Hampton County Sheriff’s Office]