Missing south Georgia banker investigated for lost money

Missing south Georgia banker investigated for lost money

TOOMBS CO., GA (WTOC) - A banker vanishes after allegations of tens of millions of dollars lost, including millions at the south Georgia based Montgomery Bank and Trust, which has banks in Ailey and Vidalia.

The FBI and U.S. Attorney's Office are now involved.

This story is the talk of the town in Vidalia, with all kinds of rumors swirling about Aubrey Lee Price, a board member at the bank, who has been missing since mid-June. Authorities say, at first, they thought Price may be suicidal, but now information suggests he may have left the country.

WTOC knows a complaint has been filed by the Securities and Exchange Commission against Price for financial fraud.

The missing money, which amounts to at least $17 million, has bank officials and their customers extremely concerned.

"I am nervous. I am concerned about Mr. Price. I am concerned about the economy at the bank and I hope he is found safe and sound," Pat Wallace, a six-year MBT customer, told WTOC.

The U.S. Attorney's Office out of Brooklyn is now involved in the case, along with federal agents, searching for Price, who is now accused of embezzling the $17 million. The FBI says he disappeared after telling friends he lost a large amount of money and they believe he is in Venezuela.

Montgomery Bank and Trust President Trae Dorough released this statement:

The bank believes that it has sufficient liquidity to meet his customers deposit obligations, which are insured by the Federal Deposit Insurance Corporation to the maximum extent permitted under law.

Wallace says it is reassuring.

"It is. I went in and asked them and they assured me everything was okay and sound and they would not be closing," she said.

Dorough also said the bank is fully cooperating with authorities and regulators.

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