Former Bradenton banker declared dead in 2012 arrested in Ga. - WFLA News Channel 8

Former Bradenton banker declared dead in 2012 arrested in Ga.

Posted: Updated:
Price, 47, is scheduled to make his first appearance before a judge on Thursday. Price, 47, is scheduled to make his first appearance before a judge on Thursday.
ATLANTA, GA (WFLA) - A bank director accused of losing millions of investors’ dollars before vanishing last year was arrested Tuesday during a traffic stop in a city in South Georgia.

Aubrey Lee Price, 47, was arrested Wednesday during a stop for a vehicle and traffic violation on Interstate 95 in Brunswick by members of the Glynn County Sheriff’s Department, the U.S. attorney’s office in Savannah said. Price is set to make his initial appearance before a federal judge in Brunswick on Thursday.

Do you tweet? We do! Join us on
http://8.wfla.com/1dsYrjS

Price disappeared in June 2012 after sending a rambling letter to his family and acquaintances that investigators described as a confession.

A Florida judge declared him dead a year ago, but the FBI had said it didn’t believe Price was dead and continued to search for him.

Prosecutors have said Price had raised roughly $40 million from about 115 investors, mostly in Georgia and Florida, through the sale of membership interests in his investment firm. Authorities believe Price slipped away with up to $17 million of investors’ money.

He has been indicted in federal courts in New York and Georgia, and the Securities and Exchange Commission has filed a complaint against him in federal court in Atlanta.

FBI Special Agent Stephen Emmett said in an email Tuesday that he didn’t know whether Price’s wife and children had known that he was still alive. His family had previously told investigators they believed Price was dead. A call to a number listed for his wife in Valdosta on Tuesday evening did not go through.

Price left his home in South Georgia on June 16, 2012, telling his family he was headed to Guatemala for business, authorities have said. Two days later, Price’s family and acquaintances received letters saying he was going to Key West to board a ferry headed to Fort Myers and planned to jump off somewhere along the way to end his life.

“My depression and discouragement have driven me to deep anxiety, fear and shame. I am emotionally overwhelmed and incapable of continuing in this life,” said a rambling confession letter investigators believe was written by Price.

“I created false statements, covered up my losses and deceived and hurt the very people I was trying to help,” the letter said.

Credit card records showed he purchased dive weights and a ferry ticket. The ferry ticket was scanned at the boarding point, and security camera footage released by the FBI about six weeks after his disappearance showed Price at the Key West airport and ferry terminal on the day he disappeared.

Sign up for free breaking news and headline email alerts http://8.wfla.com/18DCEqk

Price owned real estate in Venezuela and had told people he frequently went there and to Guatemala. The FBI said in February that investigators had accounted for all the vehicles Price owned, except for a 17-foot fiberglass boat. The agency said at the time that it was possible Price had used the boat to flee and may still be using it.

Price became director of Montgomery Bank & Trust in Ailey, Ga., in December 2010, when a company he controlled bought a controlling portion of the bank’s stock, according to a complaint filed in June 2012 in federal court in New York. Price then opened brokerage accounts through a securities clearing and custodial firm in New York and told bank managers he would invest in U.S. Treasury securities. Instead of investing the bank’s money, authorities say Price wired the funds into accounts he controlled at other financial institutions and provided bank managers with fraudulent documents.

Price lived with his wife and children in Bradenton but bought a home in Valdosta in the months before his disappearance, according to authorities. Price had moved his family to the South Georgia city, where his wife’s parents lived, just a few weeks before he disappeared.

He had lived in Bradenton at least five years, and sold his Bay Drive home for $833,500 just before he vanished.

His local businesses included Montgomery Asset Management in Sarasota and PFG Investments LLC in Bradenton. Both were formed in 2009, state records show, at the same time Price began raising the $40 million from investors in Florida and Georgia.
  • NewsMore>>

  • Nan Rich touts grassroots campaign for governor

    Nan Rich touts grassroots campaign for governor

    Monday, July 28 2014 1:56 AM EDT2014-07-28 05:56:46 GMT
    Campaign stops like the one in Pinellas County last week are how Democratic gubernatorial candidate Nan Rich is getting her message out.She doesn't have the money her opponents do. So while the two men who have already been governor are showing up in TV commercials, Rich has a different approach."I feel let the two of them go ahead and sling the mud at each other," Rich said. "I'm trying to stay above that."Richeven lumpsboth men together."On vouchers, I put them in exactly the same category,...
    Campaign stops like the one in Pinellas County last week are how Democratic gubernatorial candidate Nan Rich is getting her message out.She doesn't have the money her opponents do. So while the two men who have already been governor are showing up in TV commercials, Rich has a different approach."I feel let the two of them go ahead and sling the mud at each other," Rich said. "I'm trying to stay above that."Richeven lumpsboth men together."On vouchers, I put them in exactly the same category,...
  • USF Police investigates sex battery claim

    USF Police investigates sex battery claim

    Monday, July 28 2014 1:18 AM EDT2014-07-28 05:18:33 GMT
    The University of South Florida Police Department is investigating a report of a sexual battery on the Tampa campus. A woman told authorities she was the victim of a sexual battery that occurred at the Juniper-Poplar Residence Hall early Sunday morning. A resident student told police officers a tall, thin black man who she did not know sexually battered her in the residence hall. Police detectives identified a suspect, who told authorities he and the woman had...
    The University of South Florida Police Department is investigating a report of a sexual battery on the Tampa campus. A woman told authorities she was the victim of a sexual battery that occurred at the Juniper-Poplar Residence Hall early Sunday morning. A resident student told police officers a tall, thin black man who she did not know sexually battered her in the residence hall. Police detectives identified a suspect, who told authorities he and the woman had...
  • One dead, one injured on beach after plane crash

    One dead, one injured on beach after plane crash

    Monday, July 28 2014 12:52 AM EDT2014-07-28 04:52:47 GMT
    Man killed and his daughter was critical injured when they were hit by a plane making a crash landing on Caspersen Beach in Venice.Man killed and his daughter was critical injured when they were hit by a plane making a crash landing on Caspersen Beach in Venice.
    An emergency landing by a small plane on Caspersen Beach in Venice claimed the life of a man walking with his young daughter Sunday, the Sarasota County Sheriff's Office said.About 2:45 pm, Venice Airport contacted the sheriff's office regarding a small plane in distress that was unable to make it back to the airport, Sarasota County sheriff's spokeswoman Wendy Rose said in a news release. Instead the pilot was going to try to land on the beach.The 1972 Piper Cherokee airplane hit the man and...
    An emergency landing by a small plane on Caspersen Beach in Venice claimed the life of a man walking with his young daughter Sunday, the Sarasota County Sheriff's Office said.About 2:45 pm, Venice Airport contacted the sheriff's office regarding a small plane in distress that was unable to make it back to the airport, Sarasota County sheriff's spokeswoman Wendy Rose said in a news release. Instead the pilot was going to try to land on the beach.The 1972 Piper Cherokee airplane hit the man and...
  • Sign up for WFLA News Channel 8 Email Alerts

    * denotes required fields






    Thank you for signing up! You will receive a confirmation email shortly.
Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.