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Coast Guard: Missing banker search cost thousands

BRUNSWICK, Ga. (AP) -- The U.S. Coast Guard says the search for a former Georgia 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.


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