Fugitive banker once deemed dead faces sentencing

Fugitive banker once deemed dead faces sentencing

A former Georgia investment adviser who vanished after losing millions of clients' dollars and was mistakenly declared dead is facing a potential 30-year prison sentence.

Aubrey Lee Price is scheduled for sentencing Tuesday by a federal judge in Statesboro. The 48-year-old former fugitive pleaded guilty in June to three counts of fraud. Prosecutors say he misspent, embezzled and lost tens of millions of dollars belonging to investors and the Montgomery Bank & Trust, which closed soon after Price went missing in June 2012.

Price left letters hinting at suicide and a Florida judge ultimately declared him dead. But last December he was captured alive in a routine traffic stop.

Price's plea deal calls for a maximum of 30 years in prison and restitution of $51 million.

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