The assets of Aubrey Lee Price, the missing Georgia investor charged with a $40 million dollar investment fraud scheme, have been frozen according to an SEC press release. Mr. Price was allegedly selling an unregistered investment fund PFG that he managed without telling investors that it was tied up in illiquid investments and South American real estate. The press release stated that Price admitted to using fraudulent methods to cover with investors. According to the quote from Price’s letter in the SEC press release, he “falsified statements with false returns” in order to conceal between $20 million and $23 million in investor losses. Aubrey Lee Price’s whereabouts are currently unknown.
If you have a legal question about the suitability of a fund you’ve been sold, or if you feel a fund you purchased was misrepresented to you, please contact Richard Frankowski at 205-747-1903 to discuss your potential legal remedies.