Judge denies bond to former GA banker accused of fraud - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Judge denies bond to former banker accused of fraud

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Lee Price appears for a bond hearing in federal court in Statesboro. Lee Price appears for a bond hearing in federal court in Statesboro.
Lee Price (Source: Bulloch County Sheriff's Office) Lee Price (Source: Bulloch County Sheriff's Office)
STATESBORO, GA (WTOC) -

A federal judge sent an accused embezzler back to jail as his new, court-appointed attorney begins to sift through the evidence against the former bank director.

Lee Price, 47, a former director of Montgomery Bank and Trust, is accused of taking more than $20 million in bank assets in 2012. Price disappeared and left a note claiming he planned to kill himself over costing bank customers and investors so much money.

As Price was escorted to a waiting patrol car, Jimmy Newsome, of Statesboro, looked on from the sidewalk. Newsome said the widow of his late son invested with Price in Atlanta. The investment was intended to help Newsome's granddaughter pay for her final years at Georgia Southern University.

"They're taking out loans, trying to get her through," he said with a shrug.

And what would he say if he could speak directly to Price?

"'Where's the money?' ... and the rest probably couldn't be repeated," he noted.

[See previous stories in the bank fraud case]

Price's attorney, Josh Lowther, entered a not guilty plea. Price will remain in the Bulloch County jail as his attorney prepares for trial on bank fraud charges. He had been declared legally dead after his disappearance in Florida, but federal agents continued their search.

Last Tuesday, Glynn County deputies stopped Price on Interstate 95 for a traffic citation when they confirmed his identity and he was turned over to federal agents.

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    Bank fraud case

    See past stories about a missing bank director charged with embezzling more than $21 million from Montgomery Bank & Trust.More >>
    See past stories about a missing bank director charged with embezzling more than $21 million from Montgomery Bank & Trust.
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