Missing Georgia banker arrested in Brunswick - WBTV 3 News, Weather, Sports, and Traffic for Charlotte, NC

Missing Georgia banker arrested in Brunswick

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Aubrey Lee Price (Current mugshot left) Aubrey Lee Price (Current mugshot left)
BRUNSWICK, GA (CBS46) -

A banker from Lyons, GA, who was indicted in July 2012 on fraud charges was arrested in Brunswick Tuesday during a traffic stop.

Members of the Glynn County Sheriff's Department, conducting a random vehicle and traffic stop on Interstate 95, arrested Aubrey Lee Price, 47, and took him into custody.

Price was last seen in June 2012 boarding a ferry terminal in Key West, FL. He disappeared after writing a letter to acquaintances and regulators that he had lost a large amount of money and that he planned to take his own life.

According to the allegations in the indictment against Price, in 2010, an investment group controlled by Price invested approximately $10 million in the failing Montgomery Bank & Trust.

Price was then made a director of MB&T and put in charge of investing the bank's capital. Over the next 18 months, police said Price stole, misappropriated and embezzled over $21 million from MB&T.

To cover up his fraud, Price provided MB&T officials with bogus account statements which falsely indicated the bank's capital was safely held in an account at a financial services firm.

One of his alleged victims, Wendy Cross, lives in Atlanta.

"Hopefully he will rot in jail for a really, really long time," said Cross. She said she lost her entire life savings - $346,000 - after investing with Price.

"The best part of this is to have closure, to know this guy is going to pay for ruining so many peoples' lives."

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. He faces additional charges in New York.

Price appeared in a Brunswick federal court Thursday, but said nothing.

His lawyer said Price was homeless during the year and a half he's been missing, and he worked for cash as a migrant farm worker.

The U.S. Coast Guard reported their search for Price cost $173,000.

Price is due back in court Monday.

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