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Missing bank director arrested in Brunswick

SEGAZINE

A south Georgia bank director accused of losing millions of investor dollars before vanishing last year has been arrested in Brunswick.

The U.S. attorney’s office in Savannah says 47-year-old Aubrey Lee Price was arrested Tuesday during a traffic stop on Interstate 95 in Brunswick by members of the Glynn County Sheriff’s Department.

Price disappeared in June 2012 after sending a rambling confession letter to his family and investors saying he planned to drown himself off the Florida coast.

A Florida judge declared him dead about a year ago. But the FBI had said it didn’t believe Price was dead and continued to search for him.

In July 2012, a federal grand jury indicted Price a charge that he defrauded the Montgomery Bank & Trust, Ailey, Ga., of over $21 million.

Prosecutors say Price raised $40 million from his bank and 115 investors, and lost much of the money.

Bank fraud carries a maximum sentence of 30 years in prison and a fine of up to $1,000,000. Price faces additional charges in New York.

Georgia News – Home.

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.. on December 31, 2013. Filed under HEADLINES. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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