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Ga. banker Aubrey Lee Price accused of losing millions appeared in court, living space raided by task force

7:40 AM, Jan 2, 2014   |    comments
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BRUNSWICK, Ga. -- A south Georgia bank director accused of losing millions of investor dollars before vanishing appeared in court Thursday in Brunswick.

Aubrey Lee Price, 47, appeared before United States Magistrate Judge Graham at 10 a.m. Thursday on a one count indictment of bank fraud. If found guilty, Price could face 30 years in prison and a one million dollar fine.

Prosecutors called Price, "a flight risk," and recommended no bail be set. Price is scheduled to transferred out of the Glynn County Jail and moved closer to Savannah. Price was arrested Tuesday during a traffic stop on Interstate 95 in Brunswick.

Following Price's arrest, the Marion County Sheriff's Office confirmed a joint task force raid with officers from the Ocala Police Department was conducted Wednesday night on a living space Price was renting in the 16535 block of Northeast Jacksonville Road. Deputies said investigators removed 225 marijuana plants during the raid.

According to a Marion County Sheriff's Office Incident Report, the owner of the property Price was renting called police after he found marijuana plants growing in the garage. A total of 225 marijuana plants were removed from the property -- 140 plants from the mobile home and 85 from the garage.

Price disappeared in June 2012 after sending a rambling letter to his family and acquaintances saying he had lost millions of investors' dollars and planned to kill himself. One "pit bull-type dog" was also taken from the property by Animal Control.

A Florida judge declared him dead about a year ago, but the FBI said all along that it didn't believe Price was dead and continued to search for him.

Prosecutors say Price raised $40 million from his bank and 115 investors, and lost most of the money.

Glynn County Sheriff E. Neal Jump said he was "very proud" of his deputies for arresting Price.

"They were out being aggressive, doing holiday traffic patrol," Jump said. "They just run up on one of the FBI's big guys that needed to be put in jail."

Jump also said that Price told the deputies when they arrested him that he was "going to make them famous."

Contributing: The Associated Press

More on this story:

Banker tells cops family didn't know he was alive

Missing banker accused of embezzlement caught in traffic stop

Reports cast doubt that missing banker jumped

Small town wondering what happened to the money

FBI puts out videos of missing bank director

Missing bank director indicted by Ga. grand jury

Bank director vanishes, $17 million missing

Missing bank director sends confession, disappears

Feds: Georgia banker missing, so is $17 million

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