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Alleged Fraudster Took the Money and Ran

Georgia resident, Aubrey Lee Price, formerly of Manatee County, Florida, is apparently on the run after being accused by the Securities and Exchange Commission (“SEC”) of orchestrating a $40 million investment fraud. According to the SEC, Price misappropriated or lost nearly $40 million from approximately 115 investors in Georgia and Florida. The SEC has obtained a temporary restraining order and asset freeze against Price, his companies PFG, LLC (“PFG”) and PFGBI, LLC (“PFGBI”) and other related entities. Price’s whereabouts are currently unknown.

The Complaint filed by the SEC states that Price raised money from investors through the sale of membership interests in his unregistered investment funds, PFG and PFGBI. According to the SEC, the offering documents promised low volatility with positive returns through traditional investment opportunities such as trading in the U.S. equity market.

The SEC claims approximately $36.9 million of investor funds was placed in a trading account at a broker-dealer. The Complaint alleges that the securities trading account incurred significant trading losses and a substantial amount of the investors’ money was improperly transferred from the trading account to PFG’s operating account. The SEC also alleges that most of the investors’ funds were dissipated through poor equity performance, bad real estate investments, and the purchase of illiquid assets, including equipment and farms in South America.

The funds invested in PFGBI were used to fund the purchase of an equity ownership position in a failing Georgia bank. The SEC alleges that the bank’s reserves were also misappropriated by Price or depleted by trading losses.

The SEC claims that Price sent a letter to certain individuals in June 2012 admitting that he created false account statements to hide the $20-$23 million in losses incurred by the investors in PFG and PFGBI.

Investors nationwide who have been the victim of financial fraud, may contact the Florida securities arbitration attorneys at McCabe Rabin, P.A. for a free and confidential consultation by calling toll free at 877.915.4040 or by e-mail to

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