Plea hearing set for Ga. banker in $21M fraud case - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Plea hearing set for Ga. banker in $21M fraud case

Posted: Updated:

STATESBORO, Ga. (AP) - A former banker from Georgia who vanished and was declared dead a year before his capture is scheduled for a plea hearing that could end the $21 million fraud case against him.

Aubrey Lee Price is set to appear Thursday before a U.S. District Court judge. The case's lead prosecutor said at a pretrial hearing earlier this week that 47-year-old Price has agreed to a plea deal. Otherwise, he faces trial later this month on 17 counts of bank fraud.

Prosecutors say Price vanished in June 2012 after he misspent, embezzled and lost at least $21 million entrusted to him by investors and the Montgomery Bank & Trust in rural southeast Georgia. The bank closed soon after. Price has said he lost all the money making bad investments.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow