Feds: Georgia banker missing, so is $17 million
Source: CNN
A Georgia banker who went missing last month is being sought by federal authorities for allegedly embezzling millions of dollars from a south Georgia bank.
Aubrey "Lee" Price, 46, is charged with wire fraud, and is suspected of defrauding more than 100 investors of at least $17 million dollars over the course of two years, a criminal complaint from the U.S. Attorney's Office in the Eastern District of New York, said.
In late 2010, Price was celebrated by his peers and written up in newspaper articles after a company he controlled bought a controlling portion of the troubled Montgomery Bank & Trust in Ailey, Georgia. He was supposed to invest the bank's capital. Instead, prosecutors say Price used a New York-based "clearing firm" -- a dummy company set up to hide money -- to coverup fraudulent wire transfers and investments.
Montgomery Bank & Trust in Ailey -- about 170 miles southeast of Atlanta -- had been in operation for nearly 90 years when it was closed Friday by the state of Georgia, with the U.S. Federal Deposit Insurance Corporation named as receiver. The FDIC said Ameris Bank in Moultrie, Georgia, would take over operations of Montgomery's accounts and its two branches
Read more: http://www.cnn.com/2012/07/08/us/georgia-wire-fraud/index.html
Permission to use excessive force in his capture, has been authorized.
tularetom
(23,664 posts)Although running away with it is definitely uncool.
cr8tvlde
(1,185 posts)Jamie Dimon of Chase and Robert Diamond of Barclay's.
cr8tvlde
(1,185 posts)zeemike
(18,998 posts)This here's a story 'bout Billy Joe and Bobby Sue
Two young lovers with nothin' better to do
Than sit around the house, get high and watch the tube
And here's what happened when they decided to cut loose
The headed down to old El Paso
That's where they ran into a great big hassle
Billy Joe shot a man while robbing his castle
Bobby Sue took the money and run, oo, oo, oo
{Refrain}
Go on, take the money and run
Go on, take the money and run, oo, oo, oo
Go on, take the money and run
Go on, take the money and run, oo, oo, oo
Billy Mack is a detective down in Texas
You know, he knows just exactly what the facts is
He ain't gonna let those two escape justice
He makes his living off of the people's taxes
Bobby Sue, oh, she slipped away
Billy Joe caught up to her the very next day
They got the money, hey, you know they got away
They headed down south and they're still running today
Singin'
onehandle
(51,122 posts)My wife and I are glad to be out.
DeSwiss
(27,137 posts)...if he'd had just limited his thieving ways to his depositors, then everything would have been okay.
- But no one steals from his fellow bankers. That's so unethical......
K&R
Swede Atlanta
(3,596 posts)because it is okay to screw your customer but don't even mess with the money of your fellow bankers. That is like stealing from your fellow devil. That is totally uncool. But screw your customers? Who cares? They are just stupid little 99% people.
DeSwiss
(27,137 posts)...most of the notable ''banker'' convictions have been against the likes of Bernie Madoff and Rajat Gupta, who were primarily charged and convicted for stealing from fellow bankers and investors.
- While thieves like Robert Rubin, Ken Lewis, Lloyd Blankfein and Jamie Dimon who steal from the public at-large, remain at liberty......
thelordofhell
(4,569 posts)Kennah
(14,352 posts)Kali
(55,031 posts)perhaps you can come up with something else to express your anger at this thief
Kennah
(14,352 posts)If he actually does time, it will be something minimum security with low risk to him
Swede Atlanta
(3,596 posts)I oppose any suggestion of prison rape. But I think you have gotten a bit too sensitive and may be looking too hard for violations of the TOS.
Kennah's post "Hopefully he'll have plenty of time to explain it to his fellow prisoners" is perfectly fine. The plain English meaning of the sentence suggests Kennah hopes that the perpetrator of the bank fraud will indeed have plenty of time to explain his crimes to his fellow prisoners. Where in that sentence do you read any even indirect reference to prison rape?
I am all for maintaining a site that holds its members to a high standard of conduct but I'm having a hard time understanding your post.
Kali
(55,031 posts)the fact that it was in reply to "I thought Aubrey was a girl's name" made me post what I did. That followed by:
"Hopefully he'll have plenty of time to explain it to his fellow prisoners"
sounds like the kind of scenario I was talking about.
Swede Atlanta
(3,596 posts)Hey, I am appalled at some of things I see posted here. I wish as a community we could agree to rise above the gutter and engage in thoughtful, informative exchanges. But there are many at DU that let themselves drop to the level of those with whom they do not share much (I'm trying to be diplomatic). When we do that and our tone and approach to engagement is the same as people on FR and other right-wing sites, we denigrate the core values we share as liberals and progressives.
Be safe and hopefully cool.
marble falls
(57,479 posts)marble falls
(57,479 posts)the difference between him and Mitt? Scope. My rich uncle once told me that if you owed a bank $100K the bank owned you. But if you owed the bank $1M - you owned the bank. Thats how The Donald© fought off bankruptcy in the early nineties - if he 'failed' they failed, too. They gave him a billion dollars on a credit line. This was around the time when he was suing Merv Griffin for gypping him on a couple of Atlantic City resort deals.
Yavin4
(35,454 posts)Steal $18 billion. You get bailed out.
Lesson here kids: steal big.