Aubrey Lee Price, director of Montgomery Bank & Trust, left his home June 16, telling his family he was headed to Guatemala for business. Two days later, Price’s family received letters saying he was going to board a ferry in Key West, Fla., and jump off somewhere along the way to end his life. Price became director of the bank after a company he controlled bought a controlling portion of the bank’s stock, according to a complaint filed in federal court in New York. Price opened brokerage accounts and told bank managers he would invest in U.S. Treasury securities. The FBI and federal prosecutors say Price embezzled $17 million in bank funds. In his letter to his family, Price said the money was lost through bad investments and that it was not stolen. Federal investigators have offered $20,000 for information leading to his arrest.
The groups are working to get the Secure Act out of neutral.
The companies say a distributed ledger system could be useful in reinsurance.
The publicly traded China Oceanwide unit says it needed cash partly because of the state of the economy.
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