Skip to comments.Missing South Georgia banker arrested. (Aubrey Lee Price)
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 Sheriffs 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 ...
Mug shot at AJC
That's a long swim to Brunswick, Georgia.
Any advice for Diana Nyad?
perhaps a dim??? that part of Georgia has a lot of em
No, just lie on your back and float up the Gulf Stream.
Now how are the penguins supposed to get loans? :)
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”.
Ms Nyad can sell her book. Lee Price is no swimmer, he pissed off the wrong people
Look forward to seeing him on Scams TV Show.
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
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.
Now he’ll be going up the river.
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.?”
“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”.
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 ..
IIRC, Georgia has more counties that any other state. More small, “independent” banks. Possible contributing factor
Yes, but he’ll probably be getting soft time in club fed rather than a state work camp.
He will not survive the long reach of the underworld he betrayed
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!
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.
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.
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.