Georgia banker indicted for fraud in 2012 arrested in Brunswick - | WBTV Charlotte

Banker missing since 2012 captured in Brunswick

Aubrey Lee Price arrest photo from Dec. 31. (Source: Glynn County Sheriff's Office) Aubrey Lee Price arrest photo from Dec. 31. (Source: Glynn County Sheriff's Office)
Aubrey Lee Price photo released in 2012 (Source: FBI) Aubrey Lee Price photo released in 2012 (Source: FBI)
BRUNSWICK, GA (WTOC) -

A missing bank director accused of embezzling more than $21 million from the Montgomery Bank and Trust was arrested Tuesday during a traffic stop in Brunswick.

Aubrey Lee Price, 47, who is originally from Lyons, was arrested by Glynn County sheriff's deputies who were conducting a random vehicle and traffic stop.

A federal arrest warrant was issued for Price in the U.S. District Court, Eastern District of New York on June 28, 2012. Price was indicted on bank fraud charges on July 11, 2012.

Price invested $10 million into the failing Montgomery Bank and Trust. He was then made a director of MB&T and put in charge of investing the bank's capital, according to the U.S. Attorney's Office for the Southern District of Georgia.

During an 18-month period, Price stole, misappropriated and embezzled more than $21 million and covered up the fraud by providing MB&T officials with false account statements, according to the U.S. Attorney's Office. These statements indicated that the bank's capital was safely held in an account at a financial services firm.

On July 6, Georgia regulators closed Montgomery Bank & Trust, which has banks in Ailey and Vidalia, and appointed the FDIC as receiver.

Price was last seen in June 2012 boarding a ferry terminal in Key West, FL, traveling to Fort Myers, FL. He disappeared after writing a letter to acquaintances and regulators stating that he lost a lot of money and intended to take his own life. The FBI has been actively pursuing Price since his disappearance.

On Tuesday, Price had been stopped for a window tint violation on Interstate 95 and during the traffic stop, it was evident that he had been giving deputies false information, according to a news release from Glynn County Sheriff E. Neal Jump. When deputies learned of Price's identity, he was taken into custody.

As of Tuesday afternoon, Price was being held at the Glynn County Detention Center in connection with giving a false name, address and birth date to a law enforcement officer. A federal detainer had been filed by the U.S. Marshal's Service on behalf of the FBI.

Price is scheduled to make his first appearance in federal court at 10 a.m. Jan. 2 in Brunswick.

Price is charged with one count of bank fraud, which carries a maximum sentence of 30 years in prison and a fine of up to $1 million. Price also faces additional charges in New York.

Copyright 2013 WTOC. All rights reserved.

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