Friday, May 17 2013 11:59 PM EDT2013-05-18 03:59:20 GMT
The family of an Albany teenager who died on Friday, isn't sure how they'll pay for her funeral. 16-year old Keyanna Lang died from a heart condition. Due to her illness the family couldn't keep lifeMore >>
The family of an Albany teenager who died on Friday, isn't sure how they'll pay for her funeral.More >>
Friday, May 17 2013 11:58 PM EDT2013-05-18 03:58:09 GMT
A student-led effort to help cancer survivors ended up being a big success at a Lee County School. Friday students at Twin Oaks elementary school donated the proceeds from their effort to the Cancer CoalitionMore >>
A student-led effort to help cancer survivors ended up being a big success at a Lee County School. Friday students at Twin Oaks elementary school donated the proceeds from their effort to the Cancer Coalition of Southwest Georgia.More >>
Friday, May 17 2013 11:44 PM EDT2013-05-18 03:44:12 GMT
Furloughs for Marine Corps Logistics Base workers could start in less than two months. About 2,000 workers at the Albany base will have to take up to 11 unpaid days off in the next fiscal year that startsMore >>
Furloughs for Marine Corps Logistics Base workers could start in less than two months.More >>
Friday, May 17 2013 11:43 PM EDT2013-05-18 03:43:28 GMT
The Rat Pack came back to Albany Friday night. Sinatra and Friends performed at Doublegate Country Club to raise money for the Albany Symphony Association. The guys who play the roles of Frank Sinatra,More >>
People danced the night away to Frank Sinatra tunes.More >>
Friday, May 17 2013 11:34 PM EDT2013-05-18 03:34:50 GMT
Albany trauma specialist say most of the trauma cases they see result from car crashes, and too many of those crashes are caused by distracted drivers. Now they're spreading a message in honor of TraumaMore >>
Albany trauma specialist say most of the trauma cases they see result from car crashes, and too many of those crashes are caused by distracted drivers. Now they're spreading a message in honor of Trauma Awareness Month.More >>
SAVANNAH, GA -
Information from U. S. Attorney Edward J. Tarver
Aubrey Lee Price, originally of Lyons, GA was indicted today by a grand jury in Savannah.
Price is charged with defrauding the Montgomery Bank & Trust, Ailey, Georgia, of over $21 million.
He has been missing for over three weeks. Anyone with information on his whereabouts is urged to contact the FBI.
United States Attorney for the Southern District of Georgia Edward J. Tarver said that on July 6, 2012, Georgia regulators closed the Montgomery Bank & Trust and appointed the FDIC as receiver.
According to the allegations in the Indictment, in 2010, an investment group controlled by PRICE invested approximately $10 million in the failing Montgomery Bank & Trust ("MB&T").
Price was then made a director of MB&T and put in charge of investing the bank's capital. Over the next eighteen months, Price stole, misappropriated and embezzled over $21 million from MB&T.
To cover up his fraud, Price provided MB&T officials with bogus account statements which falsely indicated the bank's capital was safely held in an account at a financial services firm. As a result of Price's alleged fraud upon MB&T, the bank's cash assets and reserves were depleted.
U.S. Attorney Edward J. Tarver said, "Montgomery Bank & Trust is the 32nd FDIC-insured bank to fail in the nation this year, and the 6th in Georgia. When bank failures are caused by the greed and criminal conduct of others, those responsible will be investigated and prosecuted to the fullest extent of the law by our team of federal agents and prosecutors."
Price is charged with one count of bank fraud, which carries a maximum sentence of 30 years in prison and a fine of up to $1,000,000. Tarver emphasized that an indictment is only an accusation and is not evidence of guilt. The defendant is entitled to a fair trial, during which it will be the Government's burden to prove guilt beyond a reasonable doubt.
The indictment of Price arises out of an ongoing and joint investigation by FDIC-OIG Special Agent John Crawford; Federal Reserve Board OIG Special Agent Amy Whitcomb; and, FBI Special Agent Ed Sutcliff.
First Assistant United States Attorney James Durham is prosecuting the case for the United States.