Lyons Banker on Run Since 2012 Arrested - Local news, weather, sports Savannah | WSAV On Your Side

NEW INFO: Lyons Banker on Run Since 2012 Arrested

Posted: Updated:
Aubrey Price seen in handout from the FBI Aubrey Price seen in handout from the FBI
Aubrey Price Aubrey Price
BRUNSWICK, GA -

 

UPDATE:  1/2/14

The U.S. Coast Guard says it spent more than $173,000 searching for Price after his disappearance in 2012.

From uscgnews.com:

Price's disappearance prompted the Coast Guard to launch a HC-130 Hercules aircraft from Air Station Clearwater, FL. and an HC-144 Ocean Sentry aircraft from Air Station Miami to search from Fort Meyers to Key West.  Coast Guard crews searched from Fort Myers to Key West but suspended the case when his body was not found.

The hoax placed rescuers unnecessarily in harm's way and cost taxpayers thousands of dollars. The cost of operating a Coast Guard HC-130 Hercules aircraft is $17,866 per hour and the cost of operating an HC-144 Ocean Sentry Aircraft is $15,354 per hour.

Creating a hoax or making a false distress call is a felony punishable by law. The maximum penalty for making a false distress call is six years in prison, a $5,000 civil fine, a $250,000 criminal fine and reimbursement to the Coast Guard.

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UPDATE:  1/1/14 8:00 p.m.

According to the Associated Press, Price told investigators that his family didn't know he was still alive.

An FBI spokesman says Price returned to Georgia yesterday to renew the tag on his truck but it's still unclear where he was been for the last 18 months.

The Associated Press also reports that a Florida judge declared him dead a year ago.

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UPDATE:

Glynn County Sheriff Neal Jump says Price was initially stopped by his deputies for a window tint violation.

During the traffic stop, Sheriff Jump says Price gave his deputies false information about his identity.

In addition to the Federal charges, Price is charged with Giving a False Name/Address or Birth Date.

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The Department of Justice says a former banker who had been on the run for more than a year has been arrested following a traffic stop in Brunswick.

Aubrey Lee Price, 47, is accused of embezzling more than $21 million dollars from Montgomery Bank & Trust in Ailey.

According to the Indictment against Price, his investment group invested approximately $10 million dollars in the failing bank in 2010.

Price became the director of the struggling bank and was also put in charge of investing the bank's capital.

Over the next eighteen months, Price stole, misappropriated and embezzled over $21 million from MB&T, said U.S. Attorney Edward J. Tarver.

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.

Before today's arrest, Price was last seen in June 2012, boarding a ferry terminal in Key West bound for Fort Myers, Florida.

Price 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.

The FBI has been actively searching for Price since his disappearance.

He was arrested by deputies from the Glynn County Sheriff's Department on Interstate 95 in Brunswick for a vehicle and traffic violation.

Price will make his initial appearance on the federal arrest warrants on January 2 at the federal courthouse in Brunswick.

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 $1,000,000.

Price faces additional charges in New York, Tarver said. 

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