Fugitive banker captured during traffic stop in Georgia

Jan. 2, 2014 at 1:09 PM   |   0 comments

BRUNSWICK, Ga., Jan. 2 (UPI) -- A man who allegedly embezzled $21 million from a small Georgia bank and bilked investors appeared before a federal magistrate Thursday.

Aubrey Lee Price, 47, had been on the run for a year and a half when he was arrested Tuesday during a traffic stop on Interstate 95 in Georgia, the Atlanta Journal-Constitution reported. A magistrate in Brunswick, Ga., ordered him held pending a bail hearing Monday in Savannah.

The search for Price extended as far afield as South America, and he also left a suicide note when he disappeared, the Journal-Constitution said. In the end, he was pulled over in a traffic stop 100 miles or so from Ailey, the small town where he allegedly plundered the Montgomery Bank & Trust.

A federal marshal said during the hearing that Price told him he had been surviving as an itinerant handyman.

Glynn County Sheriff E. Neal Jump said Price was pulled over Tuesday because the windows of his 2001 Dodge were tinted too heavily. He was arrested after fake IDs were discovered in the car.

Price's company bought a controlling interest in MB&T in 2010 in what was billed as an effort to save the bank in Ailey, a town of less than 500 170 miles southeast of Atlanta. But prosecutors say he transferred money from the bank to accounts he controlled.

He faces federal charges in Georgia and New York.

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