The recently captured South Georgia bank director, indicted on charges he embezzled more than $21 million from his bank, was ordered to remain in jail with no bond after a hearing in Statesboro on Wednesday morning.
Aubrey Lee Price, 47, appeared before a federal magistrate judge and pleaded not guilty to the charges.
Following the hearing Duston Tapley, one of Price’s attorneys, said “the facts in the case are going to be different than facts in the papers.”
Price is accused of bank fraud involving the failed Montgomery Bank & Trust in tiny Ailey, Ga., 170 miles southeast of downtown Atlanta. He is also accused of defrauding clients in his investment advisory business of many millions of dollars more. Price is separately under indictment in New York on a federal wire fraud charge.
Price, who was missing for 18 months after suggesting he was going to kill himself by jumping off a South Florida ferry boat, was captured on New Year’s Eve near Brunswick. Federal authorities are also trying to determine if Price is also involved in a marijuana grow house in rural Florida.
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