by: Jodie Fleischer Updated:
ATLANTA - Channel 2 Action News has learned the FBI has now asked a federal judge to issue an arrest warrant for a missing Georgia businessman.
According to an arrest affidavit, Price's scheme unraveled in June when his colleagues started hearing rumors that he'd embezzled money from his investment fund, then committed suicide.
Federal investigators in Atlanta found Price was faking balance sheets to cover for the missing money. Now he's missing too.
Both of the McDonough addresses which used to be home to the Price Financial Group offices are now occupied by other companies.
Federal investigators said Price devised a scheme to defraud investors out of millions of dollars and committed wire fraud in the process.
The affidavit alleges he directed employees of a South Georgia bank subsidiary to wire millions of dollars to an investment
On Monday, the U.S. Securities and Exchange Commission got a court order to freeze Price's assets after his wife reported him missing.
"His wife and several other family members received letters from price indicating he had traveled to Key West Florida," said Sgt. Aaron Pritchett of the Lowndes County Sheriff's Office.
A civil action filed by the
Roughly 115 investors had invested about $40 million with him.
The arrest affidavit said "Price told others he planned to kill himself off the coast of Florida by jumping off of a ferry boat." It adds that "despite a recent search by the Coast Guard, Price's body has not been recovered."
"He boarded a ferry from Key West to
The document says Price "owns real estate in Venezuela … frequently traveled to Venezuela and Guatemala … (and) may own a boat that would be large enough to travel to Venezuela from Florida."
The documents indicate that investigators have not committed to whether they think Price stole money from the investors or whether his actions were an effort to cover for bad trading decisions.
In addition, the records indicate that investigators are considering whether Price may have tried to fake his own death, rather than actually committing suicide.