Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Missing South Georgia banker arrested. (Aubrey Lee Price)
Atlanta Journal & Constitution ^ | 12/31/13

Posted on 12/31/2013 5:30:15 PM PST by Broker

Aubrey Lee Price, a South Georgia bank director accused last year of defrauding his bank and clients in his money management business, has been arrested in Brunswick, federal authorities said Tuesday. Price, 47, who has been missing since June 2012, was last seen in a ferry terminal in Key West, Fla. He allegedly had planned to kill himself by leaping off a ferry boat. Price has been indicted on federal charges claiming he defrauded Montgomery Bank & Trust in tiny Ailey, Ga., where he was a director. MB&T failed in July, less than a month after Price disappeared. He said in a confession and suicide note that he hid investment losses from his clients and from other bank officials. Price had earlier led one investor group that pumped millions into the troubled bank in an effort to save it and make big profits. Price was arrested by Glynn County Sheriff’s Department during a traffic stop on I-95 for a traffic violation. He is scheduled to make an initial appearance before a federal court judge on Thursday.

(Excerpt) Read more at ajc.com ...


TOPICS:
KEYWORDS: banking; fraud
Finally!
1 posted on 12/31/2013 5:30:15 PM PST by Broker
[ Post Reply | Private Reply | View Replies]

To: Broker

Mug shot at AJC


2 posted on 12/31/2013 5:36:37 PM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Broker
Jumped off a ferry boat in Key West.

That's a long swim to Brunswick, Georgia.

Any advice for Diana Nyad?

3 posted on 12/31/2013 5:38:38 PM PST by zeestephen
[ Post Reply | Private Reply | To 1 | View Replies]

To: Broker

perhaps a dim??? that part of Georgia has a lot of em


4 posted on 12/31/2013 5:41:52 PM PST by Nifster
[ Post Reply | Private Reply | To 1 | View Replies]

To: zeestephen

No, just lie on your back and float up the Gulf Stream.


5 posted on 12/31/2013 5:42:30 PM PST by PAR35
[ Post Reply | Private Reply | To 3 | View Replies]

To: Broker

Now how are the penguins supposed to get loans? :)

6 posted on 12/31/2013 5:43:12 PM PST by Mr. Jeeves (CTRL-GALT-DELETE)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Broker

I went to college for a bit in Mt. Vernon. For those who don’t know, Ailey and Mt. Vernon’s city limits run directly through Brewton-Parker College. All the female dorms are in Ailey, thus, the girls are “Ailey-ens”.


7 posted on 12/31/2013 5:43:57 PM PST by arderkrag (An Unreconstructed Georgian, STANDING WITH RAND.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: zeestephen

Ms Nyad can sell her book. Lee Price is no swimmer, he pissed off the wrong people


8 posted on 12/31/2013 5:46:17 PM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Broker

Look forward to seeing him on Scams TV Show.


9 posted on 12/31/2013 5:46:57 PM PST by tennmountainman (Just Say No To Obamacare)
[ Post Reply | Private Reply | To 1 | View Replies]

To: arderkrag

Brewton Parker remains a quiet school near Ailey where the aliens landed and took form in Mr Price who conned this community and fled with $20mm or so


10 posted on 12/31/2013 5:50:17 PM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Broker

Not confidentially in the least bit (cause this is the interwebs) it was actually an abysmal school when I went there, plagued by the ongoing financial scandals at the time combined with a highly authoritarian faculty. If it weren’t for a couple of key friends, I probably would have transferred early.


11 posted on 12/31/2013 5:55:56 PM PST by arderkrag (An Unreconstructed Georgian, STANDING WITH RAND.)
[ Post Reply | Private Reply | To 10 | View Replies]

To: PAR35

Now he’ll be going up the river.


12 posted on 12/31/2013 5:57:35 PM PST by Fightin Whitey
[ Post Reply | Private Reply | To 5 | View Replies]

To: Broker

A boy in my 7th grade class, in a VERY small Georgia town, was the son of the local bank manager. This kid was arrogant and did what he wanted.

20 or 25 Years later I ran into a girl from that same 7th grade class. As we talked about various kids, she asked me, “Did you hear about Bob R.?”

“No?”

“He took over the bank from his dad, was tried for embezzlement and is now serving time in Federal prison!”

Kinda makes you wonder if his dad was up to anything.... “Apple——Tree”.


13 posted on 12/31/2013 6:04:27 PM PST by BwanaNdege (Those who make peaceful revolution impossible will make violent revolution inevitable. J.F. Kennedy)
[ Post Reply | Private Reply | To 1 | View Replies]

To: BwanaNdege

The magic formula for ruin; nepotism. Prior to failure this bank had a Ga congressman on the board of directors. Georgia led the nation in bank failures 2008 onward ..


14 posted on 12/31/2013 6:25:53 PM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 13 | View Replies]

To: Broker

IIRC, Georgia has more counties that any other state. More small, “independent” banks. Possible contributing factor


15 posted on 12/31/2013 6:46:52 PM PST by BwanaNdege (Those who make peaceful revolution impossible will make violent revolution inevitable. J.F. Kennedy)
[ Post Reply | Private Reply | To 14 | View Replies]

To: Fightin Whitey

Yes, but he’ll probably be getting soft time in club fed rather than a state work camp.


16 posted on 12/31/2013 8:20:54 PM PST by PAR35
[ Post Reply | Private Reply | To 12 | View Replies]

To: PAR35

He will not survive the long reach of the underworld he betrayed


17 posted on 01/01/2014 4:53:42 AM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 16 | View Replies]

To: Broker

WSAV 1/1/14 Update: Glynn County Sheriff Neal Jump says Price was initially stopped by his deputies for a window tint violation. During the traffic stop, Sheriff Jump says Price gave his deputies false information about his identity.

He must have had enablers or co-conspirators. Excellent discovery time!


18 posted on 01/01/2014 5:14:04 AM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Broker

Representative Greg Morris (R-Vidalia), chair of the Georgia House banking committee, was also a director at MB&T, according to the AJC in 2012.
http://www.house.ga.gov/Representatives/en-US/member.aspx?Member=174&Session=23


19 posted on 01/01/2014 5:31:31 AM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 18 | View Replies]

To: Broker

I don’t know - if he does a Madoff and covers for those above him, he might do OK. And since the taxpayers take most of the loss, there might not even be a dog leash and a ceiling fan involved.


20 posted on 01/01/2014 7:44:04 AM PST by PAR35
[ Post Reply | Private Reply | To 17 | View Replies]

To: PAR35

Tax payers covered deposits via FDIC. .Ameris Bank took over MB&T operations 2012. https://www.amerisbank.com
Stockholders and creditors lost everything.


21 posted on 01/01/2014 7:49:16 AM PST by Tugo (POTUS = Marxist)
[ Post Reply | Private Reply | To 20 | View Replies]

To: Tugo

Creditors were a drop in the bucket.

Administrative Liabilities $ 415,000.00
FDIC Subrogated Deposit Claim $107,355,000.00
Uninsured Deposit Claims $0
Other Claimant Liabilities $269,000.00

https://www5.fdic.gov/drrip/bal/balancesheet.asp

“The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.2 million.”
http://www.fdic.gov/news/news/press/2012/pr12080.html


22 posted on 01/01/2014 8:04:57 AM PST by PAR35
[ Post Reply | Private Reply | To 21 | View Replies]

To: PAR35

Have you discovered share holder records ?


23 posted on 01/01/2014 8:16:16 AM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Broker

All I know is what I’ve read on the internet - mainly from the AJC. But wasn’t the bank already broke when this guy showed up? Or am I confusing him with another banker.


24 posted on 01/01/2014 8:33:15 AM PST by PAR35
[ Post Reply | Private Reply | To 23 | View Replies]

To: Broker
You'd never guess his race.

That's right.

Amish, again.


25 posted on 01/01/2014 8:38:33 AM PST by Lazamataz (Early 2009 to 7/21/2013 - RIP my little girl Cathy. You were the best cat ever. You will be missed.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: PAR35

Broke on arrival ALP. Recapitalized with shareholders additional share purchase. No details. Good money after bad.


26 posted on 01/01/2014 8:40:31 AM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Tugo

Whose shares did Mr Price buy? Privately held, who brought Price in?
Gannett News reports:
47-year-old Aubrey Lee Price became director of Montgomery Bank and Trust in southern Georgia after a company he controlled bought a controlling interest in the bank’s stock. In December 2011 Price took control of investing the bank’s capital.


27 posted on 01/01/2014 2:17:16 PM PST by Broker (Never submit!)
[ Post Reply | Private Reply | To 21 | View Replies]

To: Broker

Rep. Greg Morris still chairs Georgia’s house banking committee! Amazing. He certainly has distinguished record for lack of oversight as a board member of the plundered and failed Montgomery Bank & Trust.
Price’s preliminary hearing is 10AM today. Wonder if he acted alone?


28 posted on 01/02/2014 3:53:36 AM PST by Tugo (POTUS = Marxist)
[ Post Reply | Private Reply | To 19 | View Replies]

To: Lazamataz
Banker accused of taking $21M, faking death due in court Atlanta Business Chronicle - ‎8 minutes ago‎ The south Georgia banker accused of bilking his bank and investors out of more than $21 million and then faking his death, is due in court in federal court in Brunswick Thursday morning. Aubrey Lee Price, 47, was arrested Tuesday during a traffic stop on ... Banker declared legally dead arrested in Georgia Fox News - ‎13 minutes ago‎ Authorities say a bank director accused of losing millions of investors' dollars before vanishing last year told law enforcement his family didn't know he was still alive. Aubrey Lee Price was arrested Tuesday on Interstate 95 in Brunswick. He had disappeared ... 'Dead' banker nabbed Bayoubuzz - ‎14 minutes ago‎ Aubrey Lee Price, 47, was arrested on Tuesday after Glynn County sheriff's deputies stopped him on Interstate 95 in Brunswick, Ga. , and discovered his identity, NBC station WXIA of Atlanta reported. Heavily tinted windows in a 2006 Dodge Ram pickup truck ... 'Dead' banker arrested on $21M fraud charges in Georgia New York Daily News - ‎9 hours ago‎ He's back from the dead and federal authorities are delighted to see him. A banker wanted for $21 million wire fraud who fooled many into believing he had committed suicide in 2012 has been arrested in south Georgia. Authorities say Aubrey Lee Price, 47, ... NEW INFO: Lyons Banker on Run Since 2012 Arrested WSAV-TV - ‎10 hours ago‎ Aubrey Lee Price, 47, is accused of embezzling more than $21 million dollars from Montgomery Bank & Trust in Ailey. According to the Indictment against Price, his investment group invested approximately $10 million dollars in the failing bank in 2010. 'Dead' banker arrested in $21 million fraud charges WHAS 11.com (subscription) - ‎10 hours ago‎ Aubrey Lee Price, 47, was stopped while driving on I-95 in Glynn County, Ga., on Wednesday for a tinted window violation, according to police. Officers said that it was clear Price was giving them false information during the stop, and were soon able to ... Victims relieved after bank director arrested in south Georgia WSB Atlanta - ‎13 hours ago‎ Aubrey Lee Price, 47, a south Georgia bank director accused last year of defrauding his bank and clients in his money management business, has been arrested in Brunswick, federal authorities said Tuesday. "This is a great, great way to start out the New ...
29 posted on 01/02/2014 3:54:59 AM PST by Tugo (POTUS = Marxist)
[ Post Reply | Private Reply | To 25 | View Replies]

To: Tugo

Any Reporting from 10AM Prelimenary hearing this Morning?


30 posted on 01/02/2014 10:04:23 AM PST by Tugo (Walking by faith)
[ Post Reply | Private Reply | To 29 | View Replies]

To: Tugo

They state he was “homeless”. I doubt that. He must have had enablers


31 posted on 01/02/2014 2:16:54 PM PST by Broker (By faith)
[ Post Reply | Private Reply | To 30 | View Replies]

To: Tugo

They state he was “homeless”. I doubt that. He must have had enablers


32 posted on 01/02/2014 2:16:57 PM PST by Broker (By faith)
[ Post Reply | Private Reply | To 30 | View Replies]

To: Tugo

They state he was “homeless”. I doubt that. He must have had enablers


33 posted on 01/02/2014 2:17:06 PM PST by Broker (By faith)
[ Post Reply | Private Reply | To 30 | View Replies]

To: Broker

Yeah, who cares?


34 posted on 01/02/2014 7:12:02 PM PST by Tugo (O5)
[ Post Reply | Private Reply | To 32 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson