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Banker faces wire fraud charges after he stages his suicide

When Pennsylvanians are suspected of fraud, they sometimes take drastic actions to hide their behavior. In some severe cases, their mistakes change the lives of their spouses, children, and extended family members. However, it is important for Pennsylvanians to remember that everyone is innocent until proven guilty; even if someone appears to be covering up his mistakes, he may not have committed fraud or any other type of white collar crime.

After a Georgia banker was indicted for wire fraud in both his home state and in New York, he left his family, explaining to them in letters that he had become so depressed over the accusations that he planned to commit suicide. According to prosecutors, while the man was director of a bank, he had wired clients’ funds to several accounts that he controlled. It is estimated that his profits from the scheme totaled as much as $17 million.

Although his family said they believed he was no longer alive, some law enforcement officials weren’t convinced that he had actually committed suicide. Eighteen months after his reported suicide, police pulled him over for illegally tinted windows, and their suspicions were confirmed.

Now that he has been arrested, the banker will face charges for wire fraud. It is unknown if law enforcement was able to recover any of the funds that he allegedly took from his clients. If he is convicted of wire fraud, he may serve a prison sentence. Anyone who is facing charges for fraud, embezzlement, or other white collar crime may want to seek the help of an attorney.

 

Source: New York Daily News, “’Dead’ banker, Aubrey Lee Price, arrested on $21M fraud charges 18 months after claimed suicide,” Nina Golgowski, Jan. 1, 2013 

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Gregory R. Gifford
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