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Mug Shot Monday — Missing Savannah Bank Director Indicted

February 4, 2013

From the Athens-Banner Herald

A south Georgia bank director accused of losing millions of investors’
dollars before he vanished last summer was indicted on federal fraud
charges Friday.

However, it’s unclear whether Aubrey Lee Price of Valdosta will ever
face any charges in court. He went missing June 16 and a Florida judge
recently declared him dead, although the FBI doesn’t buy his
statements in a written confession and letters to his family last year
that he planned to drown himself off the Florida coast.

Security camera footage later showed Price at a ferry terminal in Key West.

The indictment in U.S. District Court of Eastern New York charges
Price with securities and wire fraud, alleging he faked account
statements to cover up big losses from investments he made in equity
securities, options and real estate. It’s the second criminal
prosecution pending against Price, who had served as a director of
Montgomery Bank & Trust in Ailey, Ga. He was also charged with bank
fraud last year in U.S. District Court in Atlanta.

Prosecutors say Price raised $40 million from his bank and 115
investors, and lost much of the money. Melanie Damian, the lawyer
appointed to recover Price’s assets and help investors recoup some of
their losses, said it’s still unknown exactly how much of their money
he lost.

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