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‘Dead’ banker Aubrey Lee Price sentenced to 70 years

While saying he accepted responsibility for deceiving clients, Aubrey Lee Price spent much of his speech in federal court Tuesday blaming insiders of the bank he bought for allegedly duping him about the institution’s poor condition.
While saying he accepted responsibility for deceiving clients, Aubrey Lee Price spent much of his speech in federal court Tuesday blaming insiders of the bank he bought for allegedly duping him about the institution’s poor condition.
By Arielle Kass
Oct 27, 2014

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. He will serve the sentences for each of three charges concurrently, and faces a maximum of 30 years.

Price pleaded guilty in June to one count each of bank fraud, wire fraud and securities fraud. As part of a pleas agreement, he is expected to pay about $46 million in restitution, but the details of those payments have not yet been determined.

Price staged his death and vanished in June 2012, sparking a mystery that drew international media attention.

Prosecutors later accused him of embezzling millions of dollars from his clients and Montgomery Bank & Trust, a tiny bank that he and a group of investors had taken over during the state’s banking crisis, ostensibly to try and save.

He was arrested after a traffic stop near Brunswick last New Year's Eve after 18 months on the lam and has been in custody ever since.

About the Author

Arielle Kass covers Gwinnett County for The Atlanta Journal-Constitution. She started at the paper in 2010, and has covered business and local government beats around metro Atlanta. Arielle is a graduate of Emory University.

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