Blount and LaPierre Settle SEC Suit

Blount and La Pierre were the private citizens who provided the connection
between Mayor Langford and the institutions that structured the disastrous sewer debt deal for JeffCo Alabama.

Two men who pleaded guilty to roles in the bribery of Larry Langford for part of Jefferson County's sewer bond business won't face fines in a civil suit filed by the Securities and Exchange Commission, according to a federal judge's order issued today.Bill Blount, his Montgomery investment firm, and former lobbyist Al LaPierre recently reached agreements with the SEC.


The SEC is continuing the lawsuit against Langford after it could not reach an agreement.Terms of the agreements were incorporated into final orders issued today by U.S. District Judge Abdul Kallon. Blount, LaPierre, and Blount Parrish & Co. Inc., are ordered not to violate five securities rules or laws. Claims for fines or penalties by the SEC were also dismissed against the two men and company.


In the orders it says the firm, Blount and LaPierre agreed to the final judgment and permanent injunctions "without admitting or denying the allegations of the (SEC) Complaint."Blount and LaPierre pleaded guilty last year to charges involving the bribery of Langford for part of Jefferson County's sewer bond business. Langford was president of the Jefferson County Commission and former mayor of Birmingham.

Off course the collapse of Jefferson County has been the the worse example of muni-bond malfeasance.