Category: A - Newsbreaks
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January 8--  Accused bank embezzler Lee Price is being held without bond after his arraignment this morning in U.S. District Court in Statesboro.

{mosimage}U.S. Attorney spokesman Jim Durham says Price entered a not guilty plea before U.S. Magistrate G.R. Smith.  He noted not guilty pleas are standard in arraignments conducted by federal magistrates since they are not authorized to accept guilty pleas in felony cases.

Durham says Price and his lawyer will decide if Price wants to proceed to trial.

He's under federal indictment in Georgia for defrauding Montgomery Bank and Trust in Ailey and Vidalia of $21 million.  He's also been indicted by a federal grand jury in New York on similar charges.

Price had been missing since 2012 when he wrote a 22-page confession detailing his financial dealings and promising to kill himself.

He was arrested during a routine traffic stop New Year's eve in Glynn County.