Powered by The Atlanta Journal-Constitution


Updated: 1:53 p.m. Thursday, Jan. 2, 2014 | Posted: 8:19 a.m. Friday, Jan. 3, 2014

Captured S. Georgia banker: Family didn't know he was alive


Missing South Georgia banker arrested photo
Glynn County Detention Center
Missing South Georgia banker arrested
Missing Georgia bank director indicted photo
Aubrey Lee Price, a South Georgia bank director, disappeared June 16, 2012.
Missing Georgia bank director indicted photo
This was the operations center of Montgomery Bank & Trust in Ailey, Ga., where federal authorities say director Aubrey Lee Price misappropriated millions of dollars. (J. Scott Trubey strubey@ajc.com)

By J. Scott Trubey

The Atlanta Journal-Constitution

Brunswick — Fugitive Aubrey Lee Price, the south Georgia bank director accused of plundering his bank and swindling clients of his investment business, told authorities that his family did not know he was alive.

Price, who was arrested following a traffic stop Tuesday, asked deputies to notify his family that he was alive before alerting the news media of his arrest, Glynn County sheriff's officials said Thursday.

Price made his first appearance before a judge Thursday, about 48 hours after a simple traffic stop ended his 18 months on the run.

Price, 47, was formally notified of charges against him, and a U.S. Magistrate Judge James Graham ordered a bond hearing for Monday in Savannah.

Price was indicted in July 2012 on charges of embezzling $21 million from Montgomery Bank & Trust, a small bank in tiny Ailey, Ga. MB&T was a bank Price and his investor clients came to save but which later failed after his alleged fraud was uncovered. He was also accused of bilking investors served by his money management business of many millions more.

Price also faces federal wire fraud charges in New York as well as civil lawsuits from the U.S. Securities and Exchange Commission and clients who say they were jilted.

Price disappeared in June 2012, grabbing national headlines. He is believed to have drafted a rambling suicide note in which he admitted to defrauding investor clients and his bank. He was last seen boarding a ferry in Key West, Fla., where Price hinted he planned to take his life.

Price was arrested Tuesday morning in Brunswick following a traffic stop. Glynn County Sheriff E. Neal Jump told The Atlanta Journal-Constitution on Tuesday that deputies pulled over a 2001 Dodge on suspicion that its windows were too darkly tinted. Deputies arrested the driver, later identified as Price after finding fake IDs in the vehicle.

Little is yet known about his life as a fugitive. A federal probation officer told the judge Price said he was homeless and lived as a migrant worker accepting cash for odd jobs.

More News


Today on MyAJC.com

July 28, 2014

 Supreme Court sets hearings for stadium challengers

Challengers to both the Falcons and Braves stadium financing deals have been granted hearings before the Georgia Supreme Court in which they’ll argue against local plans to issue taxpayer-backed bonds for stadium construction.

Comments  (9)  


Richt: UGA ‘just waiting for a response’ from NCAA on Gurley

Georgia-Florida week opens with the biggest question about the game still in the NCAA’s hands: Will Todd Gurley, the Bulldogs’ suspended star tailback, be allowed to play against the Gators on Saturday in Jacksonville?

Comments  (3)  


‘Dead’ banker Aubrey Lee Price sentenced to 70 years

Aubrey Lee Price, the former preacher and investment adviser who pleaded guilty earlier this year to defrauding clients and his South Georgia bank, was sentenced to 70 years in prison Tuesday in federal court in Statesboro.

Subscribe to the AJC on your device

24-hour Digital Pass: Flashback

See Flashback Fotos on myajc.com for only 99 cents. Visit the MyAJC archives for a historic look at Atlanta from Midtown in the 70s to Auburn Avenue and even life here before traffic jams on the interstates.

In your community

Annual Woofstock event in Suwanee

Volunteering in Atlanta

Learn how to volunteer in Atlanta and north Georgia, browse volunteer events and search local groups who need volunteers in the arts, community, food programs, housing, animal rescue and more.

Top news now from the AJC

Pat Reid, (left) and Tony Pope (right)

 Prisons get orders to release 2 convicted in DeKalb school case

The Georgia Department of Corrections received court orders Tuesday afternoon to immediately release the one-time head of construction for DeKalb County schools and her ex-husband even as former DeKalb County District Attorney Robert James is trying to stop it.