Former Birmingham Mayor Larry Langford was sentenced Friday to 15 years in federal prison for taking almost $235,000 in bribes in return for profitable bond work. Langford was accused of telling major Wall Street banks JP Morgan, Goldman Sachs, Bank of America and the now-bankrupt Lehman Brothers to include Blount's investment banking firm if they wanted to handle the county's bond work. For more information regarding the most recent information taking place within the Stock Market, make sure to visit the Most Exclusive and Leading in Depth newsletter website at: http://www.wallstreetgrand.com/.
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Former Birmingham Mayor Larry Langford was sentenced Friday to 15 years in federal prison for taking almost $235,000 in bribes in return for profitable bond work. U.S. District Judge Scott Coogler imposed the sentence on Langford, 63, who told the court, "I am sorry all this has occurred." The judge also ordered him to pay more than $360,000 in forfeitures and back federal taxes. He said Langford must report to federal custody by April 5.
Langford, a well-groomed political figure, was convicted in October of taking near $235,000 in cash, loans and gifts including expensive clothes and jewelry while he was president of the Jefferson County Commission. In exchange, prosecutors said, he steered county bond work to an investment banker who paid the bribes.
"He sold Jefferson County out," said Assistant U.S. Attorney George Martin. He said Langford committed a "gross abuse of trust" with every Italian suit, Rolex watch and cash payment he received. The defense claimed these were personal gifts and loans from friends and did not influence Langford's decision on the bond work.
But investment banker Bill Blount pleaded guilty to making the payments, and lobbyist Al LaPierre admitted being the middleman. Blount, the former state Democratic Party chairman, last week was sentenced to more than four years in prison. LaPierre, the former executive director of the state Democratic Party, got four years. Blount also was ordered to pay $1 million to the government and LaPierre $470,000.
Prosecutors had asked Coogler to send Langford to prison for at least 24 years and as long as 30 years, contending he had showed no remorse. The defense said Langford had been ridiculed by news media and, based on another Jefferson County official's sentence for corruption, should spend no more than five years in prison.
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