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Georgia banker Aubrey Lee Price arrested on fraud charge, was legally dead

By Daniel S Levine,

Georgia banker Aubrey Lee Price, who was on the run from the FBI and was legally declared dead, has been arrested. He is accused of embezzling millions from investors.

Price was caught on Wednesday after being pulled over on I-95 in Glynn County, Ga. for his tinted windows, reports ABC News. Authorities say that he was clearly giving the officer fake information and discovered that the FBI had him on their list of wanted criminals.

According to CNN, Price’s story starts in 2010, when a company he runs helped the troubled Montgomery Bank & Trust bank in a city south of Atlanta. The move came with local fanfare and he had said he’d use the capital for investments.

Instead, prosecutors say he used a fake company in New York to cover up the money he earned. A complaint against him was filed in federal court in July 2012, alleging that he was part of a scheme to raise $40 million from investors in Georgia and Florida. He allegedly embezzled $21 million for his security accounts.

When those charges were first reported, Price was already missing for weeks and a letter he wrote to associates showed that he planned to kill himself. Even though no body was found off Key West, he was declared legally dead. He was even seen on a ferry boat in June 2012.

 
 

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