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Coast Guard: Missing banker search cost thousands
US Coast Guard: Bank director's disappearance cost agency thousands
Associated Press
2014-01-03 06:22 AM

BRUNSWICK, Georgia (AP) -- The U.S. Coast Guard says the search for a former bank director who disappeared after being accused of losing millions of investor dollars cost the agency more than $173,000.

Aubrey Lee Price disappeared in June 2012. Investigators say he sent a rambling letter to his family and acquaintances saying he had lost millions of dollars and planned to kill himself by jumping off a Florida ferry.

The Coast Guard says the 47-year-old's disappearance prompted a search by aircraft. The agency says the search put rescuers in harm's way unnecessarily and cost taxpayers thousands of dollars.

Price was arrested Tuesday during a traffic stop on Interstate 95 in the coastal Georgia city of Brunswick. He faces federal charges of wire and securities fraud and is accused of bilking investors out of millions.

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Information from: The Atlanta Journal-Constitution, http://www.ajc.com

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