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Former Bank Director Who Faked Own Death is Captured

Aubrey Lee Price, who duped investors out of millions of dollars and then disappeared in 2012 after telling acquaintances that he had lost a large amount of money and planned to kill himself, was arrested earlier his week in Georgia and charged yesterday with securities and wire fraud.

Jan 03, 2014 11:00 AM


Former Bank Director Who Faked Own Death is Captured

Aubrey Lee Price, who duped investors out of millions of dollars and then disappeared in 2012 after telling acquaintances that he had lost a large amount of money and planned to kill himself, was arrested earlier his week in Georgia and charged yesterday with securities and wire fraud.

According to the charges against him, Price unsuccessfully invested  funds he managed and then lied to investors by posting fake account statements that reflected fictitious assets and fabricated investment returns. Price managed about $40 million from 115 investors from across the nation in 2009.

Then in 2011, as director of Montgomery Bank & Trust in Georgia, Price lost much of the bank’s money by investing in risky equity securities and options. The indictment against him alleges Price covered up his embezzlement and losses by giving the bank’s management fabricated documents falsely indicating that approximately $17 million was on deposit in the bank’s name at a large financial services firm in New York.

In 2012, Price disappeared after leaving a suicide note indicating that he planned to kill himself by throwing himself off a high speed ferry boat in Florida. He was last seen boarding a ferry boat in Key West, Florida, bound for Fort Myers on June 16, 2012.  Price was arrested December 31 in Georgia by deputies from the Glynn County Sheriff’s Department following a traffic violation. When deputies learned of Price's true identity, he was taken into custody.

Press release