Prosecutors said Price took control of the bank’s securities portfolio and diverted money from bank reserves, then lost it in speculative trading and other investments. Price separately is accused in a civil case of misappropriating funds from clients in his investment business.
In June 2012, Price disappeared and the bank failed the following month. In suicide notes sent to his family and associates, Price admitted to misappropriating money and producing false financial statements in frenzied attempts to make back heavy losses.
He was seen boarding a ferry in Key West, Fla., and later declared dead by a Florida court. Price was arrested on Dec. 31 near Brunswick, Ga., following a traffic stop.
In April, prosecutors expanded the indictment against Price from one felony charge of bank fraud to 17.