Bank Chairman Pleads Guilty to Misusing Public Funds

4 years 3 months 2 weeks ago Monday, August 26 2013 Aug 26, 2013 Monday, August 26, 2013 6:58:00 PM CDT August 26, 2013 in News
By: Jonathan Deutsch, KOMU 8 Reporter
loading

ASHLAND - Darryl Layne Woods, the former chairman and CFO of Mainstreet Bank in Ashland, pleaded guilty in federal court Monday to misleading federal investigators.

Woods, 48, used more than $381,000 in bank bailout funds to buy a condo in Fort Myers, Fla. 

Woods, a Columbia resident, also served as the chairman, president, and majority shareholder of Calvert Financial Corporation. It is the bank holding company for Mainstreet Bank.

In November of 2008, Calvert Financial applied to receive funds from the Troubled Asset Relief Program (TARP). This program provides capital to companies to help them build their capital base and generate more financing for businesses and individuals.

Calvert Financial received more than $1 million in January of 2009 through TARP. 

Woods admitted to purchasing the condo on February 2, 2009.

Woods could face a sentence of one year in federal prison without parole, plus a fine of up to $100,000. 

No members of his family were charged.

A sentencing hearing will be scheduled once the investigation is completed.

More News

Grid
List
COLUMBIA - Thursday marked the five year anniversary of the Sandy Hook shooting. In 2012, Adam Lanza opened fire... More >>
29 minutes ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:50:00 PM CST December 14, 2017 in News
COLUMBIA - Police now have 75 kits with the opioid overdose reversal medication naloxone, which is also known as Narcan.... More >>
40 minutes ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:39:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The former administrator of the Pettis County Ambulance District has admitted embezzling more than $227,000... More >>
1 hour ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:15:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — Missouri Gov. Eric Greitens has appointed a former St. Louis-area Husch Blackwell lawyer to the... More >>
1 hour ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:11:00 PM CST December 14, 2017 in News
JEFFERSON CITY (AP) — Republican Gov. Eric Greitens is praising Missouri's revamped Clean Water Commission for allowing two new... More >>
1 hour ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:08:00 PM CST December 14, 2017 in News
BELLEFONTAINE NEIGHBORS (AP) — Two St. Louis-area police officers have been shot in the chest, but bulletproof vests apparently saved... More >>
1 hour ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 2:04:00 PM CST December 14, 2017 in News
OLATHE, Kan (AP) — A third man has been convicted in the killing of a suburban Kansas City gun... More >>
6 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 8:46:29 AM CST December 14, 2017 in News
JEFFERSON CITY - The Missouri Department of Health and Senior Services said it concluded a three-month long investigation into a... More >>
7 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 7:54:00 AM CST December 14, 2017 in News
JEFFERSON CITY - Mid-Missouri could be gaining its second, fully-accredited Montessori school. Tonight Woodland Montessori will put forward its... More >>
8 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:53:00 AM CST December 14, 2017 in News
UPDATE: The Missouri State Highway Patrol has confirmed they have arrested 36-year-old Audrey Griffith in Audrain County in connection with... More >>
8 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:49:00 AM CST December 14, 2017 in News
COLUMBIA - On Wednesday evening, Columbia Police Officers were dispatched to the 2300 block of Carpenter Drive in reference to... More >>
8 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 6:20:46 AM CST December 14, 2017 in News
COLUMBIA - Columbia Police Officers responded to the 1500 block of Vandiver Drive in reference to a reported home invasion... More >>
9 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 5:28:42 AM CST December 14, 2017 in News
Update: Columbia Police Officers have made an arrest in regards to Wednesday morning's incident in the 1500 block of Fir... More >>
10 hours ago Thursday, December 14 2017 Dec 14, 2017 Thursday, December 14, 2017 4:50:00 AM CST December 14, 2017 in News
JEFFERSON CITY (AP) — The director of the Missouri Veterans Commission has resigned amid complaints about care at the St.... More >>
16 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 10:37:00 PM CST December 13, 2017 in News
SALINE COUNTY - Former Columbia Police officer Rob Sanders will head back to the courtroom in May 2018 as he... More >>
17 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 10:03:00 PM CST December 13, 2017 in News
The St. Louis Cardinals have acquired outfielder Marcell Ozuna from the Miami Marlins. The deal is pending a physical. ... More >>
17 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 9:41:00 PM CST December 13, 2017 in Sports
COLUMBIA - Today the Federal Communications Commission will vote on a plan to repeal net neutrality and librarians worry this... More >>
18 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:44:00 PM CST December 13, 2017 in Continuous News
AUDRAIN COUNTY - The man who was found on Audrain Road 913 Tuesday next to a crashed car died of... More >>
18 hours ago Wednesday, December 13 2017 Dec 13, 2017 Wednesday, December 13, 2017 8:32:00 PM CST December 13, 2017 in News
Columbia, MO
Broken Clouds 33°
4pm 34°
5pm 33°
6pm 34°
7pm 33°

Select a station to view its upcoming schedule:

Coming Up Next

3:00p
Dr. Phil
4:00p
Jeopardy!
4:30p
Jeopardy!
3:00p
The Robert Irvine Show
4:00p
The Goldbergs
4:30p
The Goldbergs

Tonight's Schedule

6:30p
Football Night in Indianapolis
7:20p
Thursday Night Football
7:00p
iHeartRadio Jingle Ball 2017
8:30p
Whose Line Is It Anyway?
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld