He couldn't have done it alone. That's what an Ohio lawyer firm says about a fugitive financier from Georgia. Now, that law firm is going after the companies he says helped him Aubrey Lee Price.
Price is thought to be on the run in South America after federal prosecutors accused him of bilking investors out of $21-million and forcing the shutdown of Montgomery Bank and Trust in Ailee, Georgia. While agents pursue Price, Cleveland, Ohio, lawyer John Chapman said he is going after the firms he argues either helped in the scheme or should have known better.
Chapman accused Atlanta-based FSC Securities and Wall Street giant Goldman Sachs of either helping Price or allowing him to do wrong.
"They missed a lot of red flags and sat idly by while this happened," Chapman contended. The firms disregarded what he termed "bizarre" activity in Price's accounts, bypassing alarms that should have been triggered by laws designed to thwart money laundering.
Chapman may sue one or both firms to recover money for his clients.
Neither Goldman Sachs nor FSC returned WSB's calls seeking comment.







