William B. Blount

William B. "Bill" Blount (born 1954) is an investment banker, bond underwriter, and former Alabama Democratic Party chairman. In 2009, he pleaded guilty to federal bribery and conspiracy charges in exchange for testimony against former Birmingham, Alabama, mayor Larry Langford.

Education

Bill Blount is a 1975 graduate of the University of Alabama, where he served as President of the Student Government Association (SGA). He graduated from the University of Alabama School of Law in 1978 and did graduate work in the United Kingdom.[1]

Career

He was a partner with a large regional investment banking firm in Montgomery for six years before co-creating and co-owning the firm Blount Parrish & Co. in 1985. While in the investment banking business, he completed hundreds of tax-exempt and taxable financings for public utilities, hospitals, corporations, cities, counties, school boards and other entities. Blount also founded or co-founded several other companies involved in solid waste handling, communications, publishing and manufacturing. In the 1990s Blount Parrish was involved in controversial bond deals proposed to raise capital for the construction of warehouses at the Alabama State Docks in Mobile.[2]

Mr. Blount was also the Chairman of the Alabama Democratic Party from 1991 to 1996.[3]

2008 Federal Charges

In December 2007, Blount and Mayor Langford were subpoenaed to a U. S. District Court in Miami, Florida to testify. Both refused. On December 1, 2008, Blount and Langford were given a 101 count indictment including federal bribery, corruption, and conspiracy charges of creating "pay to play" criminal schemes in which they personally and professionally profited from Jefferson County’s billion-dollar sewer bond deals.[4]

The indictment charged that between 2003 and 2006, former Birmingham mayor Larry Langford received payments totaling $235,000 from Blount. Prosecutors also alleged that Blount bought Langford expensive gifts such as Tourneau and Rolex watches totaling about $22,000 and luxury clothing during trips to New York City, where the commissioners discussed bond deals with Wall Street. On August 18, 2009, Blount pleaded guilty to one count of conspiracy and one count of bribery and agreed to forfeit $1 million. Blount was sentenced to jail on February 26, 2010 for 4 years and 4 months.[5]

References

  1. ↑ http://www.bloomberg.com/apps/news?pid=20601109&sid=a6QpSf.s4NaA
  2. ↑ Braun, Martin Z. (18 August 2009). "Municipal Bond Banker Pleads Guilty in Alabama Case (Update2)". Bloomberg. Archived from the original on 2 December 2010. Retrieved 6 June 2016.
  3. ↑
  4. ↑ http://www.sec.gov/litigation/litreleases/2008/lr20821.htm
  5. ↑ http://www.abc3340.com/news/stories/0210/710570.html
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