Plea deal awaits Ga. banker who lost clients' $21M

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Associated Press

Posted on June 3, 2014 at 10:02 AM

Updated Tuesday, Jun 3 at 10:08 AM

STATESBORO, Ga. (AP) — A federal prosecutor says a plea deal has been reached with a former southeast Georgia banker who vanished for a year and a half after losing $21 million of his investors' money.

Assistant U.S. Attorney Brian Rafferty told a judge Tuesday in Statesboro that prosecutors "have a plea agreement in place" with 47-year-old Aubrey Lee Price, who faces trial June 23 on bank fraud charges. A plea hearing is scheduled for Thursday.

Prosecutors say Price misspent, embezzled and lost $21 million and faked financial records to cover his tracks before he disappeared in June 2012. Price left a suicide note and was later declared dead in Florida. He was arrested last December during a traffic stop on Interstate 95 in coastal Georgia.

Price's attorney, Joshua Lowther, declined to comment.

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