Nightly News   |  January 02, 2014

Fugitive Banker Denied Bond

Federal authorities say that after raising $40 million from more than 100 investors and suffering massive losses, Aubrey Lee Price "fraudulently obtained over $21 million dollars of [bank] funds, which he then misappropriated, embezzled and lost."  NBC’s Mark Potter reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> we have learned more tonight about this week's capture and arrest of a fugitive during a routine traffic stop. the man was a small town georgia banker who raised millions of dollars from friends looking for a safe investment. that was until he disappeared and was accused of stealing the life savings of some of his investors. he went as far as to leave behind a suicide note but he turned up very much alive when he was pulled over by the cops who found out who he was. we get the story tonight from nbc's mark potter .

>> reporter: in court today aubrey lee price was denied bond as a flight risk. authorities in georgia say price told them since disappearing a year and a half ago he'd been homeless working menial jobs but he rented a house where hundreds of marijuana plants were grown. his appearance is a far cry from when he was a georgia bank director and minister before he was indicted for an alleged multi- million dollar investment fraud . price was last seen in june 2012 as he was buying a ticket for a ferry boat ride in key west , florida. investor wendy cross said he destroyed her retirement savings and is glad he's behind bars .

>> justice prevails. the big foot of karma will squash you.

>> reporter: federal authorities say after raising $40 million from more than 100 investors and suffering losses price then fraudulently obtained over $21 million of bank funds which he then misappropriated, embezzled and lost. in a lengthy confession letter he wrote, i am 100% responsible for the losses i created. he suggested he was going to kill himself. a year ago a florida judge declared price legally dead ruling he took his life t at sea. but price was still alive. his time on the run ending tuesday along i-95 in georgia when deputies noticed his truck's window tinting was too dark.

>> he said, i'm going to make you famous and if you can accept reward money i'll make you rich. i said, who are you? he said, aubrey lee price . i said who is that? he said, i'm wanted by the fbi.

>> reporter: if convicted he could get 30 years in prison while investors struggle to rebuild. mark potter , nbc news, miami.