Missing Georgia banker being sought with $20,000 reward, who allegedly ran away with $17 million

By on Jul 10, 2012 in Banking, United States Comments

A Georgia banker has reportedly been missing for a month and federal authorities are currently looking for him, after learning that he allegedly took with him millions of dollars from a bank investment in the span of two years, with FBI now offering a $20,000 reward for any information that would lead to his arrest.

Aubrey Lee Price, the missing Georgia banker
Image Credit: Lowndes County Sherrifs Dept

According to CNN on Monday, July 9, 2012, an unnamed complainant said that Aubrey Lee Price, 46, was nowhere to be found about two weeks ago and went missing with at least $17 million of bank investment. He is being charged with wire fraud, after he did not invest the bank money as he was tasked to do so.

As noted in the report, Mr. Price is being suspected of defrauding more than 100 investors after using a ‘dummy company’ to hide big amount of money since late 2010, when a company he controlled bought a controlling portion of Montgomery Bank & Trust in Ailey, Georgia, which was then in financial trouble.

“Certainly we are receiving any information that arrives locally, but any updates or comments would have to come from the U.S. attorney’s office in New York,” Stephen Emmett with the FBI Atlanta Field Office was quoted telling to CNN last Sunday.

Apparently, the complainant quoted a 22-page letter allegedly written by Price back in June to his acquaintances and business associates, saying that he had lost “a large sum of money through his trading activities” and was planning to end his life by “jumping off a ferry boat” in Florida.

However, federal investigators, including the FBI, believe that Price, who was last seen in Key West, Florida last June 16, could be running away now, with FBI Special Agent Michael Howard noting in the complaint that investigators believe Price “may own a boat big enough to travel to Venezuela from Florida.”

On the other hand, prosecutors noted that Aubrey Price, who is being expected to face up to 30 years in jail if proven guilty, returned to the United States from a trip to Venezuela on June 2 based on airline records.

Meanwhile, Montgomery Bank & Trust, which is about 170 miles southeast of Atlanta, has been seized by the Federal Deposit Insurance Corp. (FDIC) last Friday. Wall Street Journal reported that it was acquired by Moultrie-based Ameris Bank, and its two branches in Ailey and Vidalia would reopen Monday.

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