SEC lawsuit says Birmingham Mayor Larry Langford took the ready from pact dealer; for includes investment banker Bill Blount and lobbyist Al LaPierre. Income loan.

Birmingham Mayor Larry Langford arranged $6.7 million in Jefferson County fiscal work for a Montgomery investment banker who gave him $156,000 to compensate a disparaging loan, proceeds taxes, and clothing and jewelry bills, a federal lawsuit filed Wednesday states. The U.S. Securities and Exchange Commission filed the formal force in Birmingham federal court against Langford, Montgomery banker Bill Blount and lobbyist Al LaPierre.

The lawsuit also names Blount's firm, Blount Parrish & Co. The SEC accuses Blount of using LaPierre to dissipate simoleons to Langford and says Blount paid LaPierre $219,500 for his help. The three men, all friends for at least two decades, never told others in county rule or investors in county pecuniary deals about the payments to Langford, according to the lawsuit. "Furthermore, their execution of guide operated as a phoney and craftiness on the county and investors," the SEC lawsuit states. Langford faces three counts of flimflam under federal securities law; Blount and his business each pan three double-dealing counts and two other securities order counts; and LaPierre faces one deem of aiding and abetting Blount and his firm.

The SEC is asking, amongst other things, that the three be required to even the score back "all profits and proceeds" and meet civilian fines. The SEC's function is disengage from an unfolding vile examination that targets Langford and his monetary ties to others who have done partnership with the county and Fairfield, where Langford was mayor before being elected county commissioner in 2002. Langford stepped down from his county role in November after being elected Birmingham's mayor.

Langford said Wednesday he is courageous he will be cleared of the SEC's claims. The Democrat called the chest against him political, echoing fresh arguments by Democratic prior Gov. Don Siegelman of a partisan patch by Republicans steadfast on destroying him. "I cogitate if you manner across the country, the Republican Party has gone to deprecate as many Democrats as they by any chance can," Langford said.

"The bottom path is, once this goes to court and all of these charges are disproved, you're flourishing to encounter out that this undivided prepared has been nothing but a civic game, and possibly once we get this action into court, you'll determine to be out the bodies here in Birmingham who were behind all of this." Lawyers for Blount and LaPierre said they will feud the SEC's claims, arguing in faction that the commission doesn't have control to dossier the carton because it doesn't fix the exemplar of economic deals old by the county. "Neither Mr. Blount nor his constant have done anything wrong, and we accept the break to end up this in court," said Andrew Campbell, a Birmingham member of the bar representing Blount and his company.

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