Georgia Banker Faked His Death Gets 30 Years In Prison

Photo By larryfarr of

Photo By larryfarr of

A former Georgia bank director faked his own suicide two years ago in order to cover up the embezzlement of millions of dollars.

Audrey Lee Price was sentenced on Tuesday to 30 years in jail.  Price had been legally declared dead before being found alive last year. After being found he was given 360-month term by a Federal Judge in U.S. District Court in Statesboro, Georgia.

In June, Audrey pleaded guilty to bank, wire and securities fraud. Prosecutors say he misspent, embezzled and lost about $60 million dollars belonging both to private investors and the Montgomery Bank & Trust, which closed soon after Price went missing in June 2012 reported NBCnews.

A few weeks before the bank closed with its assets and reserves depleted Audrey Price vanished, and he left rambling letters saying he planned to jump off a ferryboat.

In December 2013, a year after a Florida judge declared him dead at his wife’s request. Price, a former preacher, changed his appearance, and traveled to Venezuela as well as Florida. He was captured in a routine traffic stop near Brunswick on the Georgia coast.

Price gave a speech in front of the judge in which he acknowledged responsibility for his crime. He pledged to help recoup money, and officials say he is cooperating with their efforts to collect restitution.

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