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MMP #47 - Overdrawn and Under The Radar - What Happened To The Money? Part Four

True Sunlight

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Ellic Murdoch's Bankruptcy

The court filings show us five things. The bank allowed Ellic Murdoch to carry unusually large negative balances on his accounts for years, sometimes in the six figure range. Yet, they continued to give him large loans, which he, in turn, did not pay back on time. Number two, considering all of this strange banking activity, Ellic Murdoch's name should have come up regularly in anti-fraud reports. Number three, Ellic's financial schemes, whatever they were, could not have happened without Palmetto State Bank and Russell LeFee, the former CEO who was currently on house arrest. And finally, number five, these filings show yet another layer of how the systems

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