In 2009, he pled guilty to federal bribery and conspiracy charges in exchange for testimony against former Birmingham, Alabama, mayor Larry Langford.
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.
On December 1, 2008, Blount and Langford were given a 101 count indictment including charges of creating "pay to play" schemes in which they personally profited from Jefferson County's sewer bond deals.
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.