Dozens of investors in and around Georgia are dealing with a sobering reality that has been confirmed by the Securities and Exchange Commission's investigation into Georgia-based investor Aubrey Lee Price.
Price is accused by the SEC of misleading dozens of clients into thinking $40 million of their dollars were safely invested, while in reality the money had all been drained.
"There wasn't signs that this was some crazy Ponzi scheme, where you make 25 percent of your money in one month," said Atlanta resident Wendy Cross, who lost $364,000 of her life savings in her dealings with Price. "From the time I put my money in, I never had a chance."
"A substantial amount appears to have been lost trading," said Bill Hicks of the Atlanta division of the SEC.
"Investors were being led to believe they had money that was no longer there."
According to the FBI, Price has not been seen since boarding a boat in Key West last month. A suicide note from him was later discovered, but his body has not been found.
"I think he's alive," said Cross. "I think he was planning this exit for a long time."
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