Aubrey Lee Price, Ga. bank director, disappears amid $40 million fraud case

The FBI is offering up to $20,000 for information leading to the arrest of a Georgia banker who disappeared last month after millions of dollars in bank funds went missing.

Aubrey Lee Price went missing on June 16 shortly after telling friends and family he had “lost a large amount of money through trading activities.

In a letter that he left for his loved ones, Price said he planned to commit suicide but authorities believe he is alive and is either in the Florida area or Central America.

Authorities said forty-six year old Price, who was a director at the Montgomery Bank and Trust in Ailey, Georgia, was responsible for investing about $17 million of the bank’s money.

Instead of investing the money in treasury securities as he told management he was doing, it is alleged that Price wired the millions of dollars to bank accounts which he controlled and then altered documents which he provided to his superiors.

Two days after he disappeared, Price sent letters to family and friends saying he was traveling to Key West, Florida.  He also admitted to falsifying statements with false returns in order to conceal investor losses.

He was last seen getting on a ferry boat in Key West en route to Fort Myers, Florida.

In addition to wire fraud, the SEC alleges that Price hid losses between $20million and $23million from clients over the past two years.