Banker Admits to Using Bailout Funds for Condo

3 years 4 months 3 weeks ago August 26, 2013 Aug 26, 2013 Monday, August 26 2013 Monday, August 26, 2013 6:33:00 PM CDT in News
By: The Associated Press

JEFFERSON CITY - The chairman of a central Missouri bank has admitted using more than $381,000 in federal bailout money to buy a luxury condominium in Florida.

The U.S. Attorney's office says 48-year-old Darryl Layne Woods, of Columbia, pleaded guilty Monday to misleading federal investigators about his use of Troubled Asset Relief Program funds.

Woods was chairman and chief financial officer of Mainstreet Bank in Ashland. He also headed the bank's holding company, Calvert Financial Corp.

Federal prosecutors said Calvert Financial applied for and received slightly more than $1 million in TARP funds in early 2009.

Within days, investigators said, Woods used about $381,500 of the money to buy a waterfront condo in Fort Myers, Fla., for use by himself and other bank executives.

A sentencing date for Woods will be scheduled later.

 

More News

Grid
List
COLUMBIA – Missouri is the only state without a prescription drug-monitoring program in place, but officials in Columbia are hoping... More >>
5 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 6:34:00 PM CST in News
COLUMBIA - At their Jan. 10 Court en Banc meeting, the judges of the 13th Judicial Circuit elected their new... More >>
6 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 5:39:00 PM CST in News
COLUMBIA - A Columbia man has pled guilty Friday to three counts of sexual exploitation of a minor, one count... More >>
7 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 4:43:00 PM CST in Top Stories
UNION, Mo. (AP) — Authorities in eastern Missouri are investigating after a body was found in a river. The... More >>
8 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 3:55:00 PM CST in News
COLUMBIA - All across the country televisions were set to the presidential inauguration to see Donald Trump take office. Craig... More >>
8 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 3:20:00 PM CST in News
KANSAS CITY, Mo. (AP) — Authorities are investigating the case of a 53-year-old woman who died while detained in a... More >>
8 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 3:18:00 PM CST in News
COLUMBIA - Students and representatives from more than 15 local organizations gathered at the University of Missouri Friday for a... More >>
9 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 3:04:00 PM CST in News
TROY, Mo. (AP) — An eastern Missouri woman has been placed on probation for helping stage her son's fake kidnapping... More >>
9 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 2:46:00 PM CST in News
COLUMBIA - One of Columbia's most-traveled roads, Business Loop 70, is set to go through a beautification process. Before... More >>
10 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 1:40:00 PM CST in News
BRANSON, Mo. (AP) — A concrete truck driver has been charged in a deadly crash about a mile east of... More >>
12 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 11:23:55 AM CST in News
ST. LOUIS (AP) — The FBI is investigating after hackers blocked the St. Louis Public Library's server. The... More >>
14 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 9:34:02 AM CST in News
COLUMBIA - Police are investigating an attempted armed robbery at the Eagle Stop gas station on Providence Road at I-70.... More >>
14 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 9:18:00 AM CST in News
KINLOCH (AP) — A 17-year-old St. Louis County resident is charged with first-degree murder and other crimes in the July... More >>
15 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 9:00:02 AM CST in News
ST. LOUIS (AP) — A woman who aids breast cancer survivors in the St. Louis area by creating tattoos of... More >>
16 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 8:11:00 AM CST in News
INDEPENDENCE (AP) — Authorities say a Kansas City man has been charged in the 2013 death of a 22-year-old man... More >>
17 hours ago January 20, 2017 Jan 20, 2017 Friday, January 20 2017 Friday, January 20, 2017 6:53:22 AM CST in News
COLUMBIA – On Friday, president-elect Donald Trump will officially take the oath of office in Washington D.C. for President of... More >>
1 day ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 9:58:00 PM CST in News
COLUMBIA - The U.S. Department of Agriculture released a new set of regulations on Wednesday that clarifies standards for living... More >>
1 day ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 6:49:00 PM CST in News
COLUMBIA - The Columbia/Boone County Health and Human Services Department tracked a decrease in mumps cases reports when MU students... More >>
1 day ago January 19, 2017 Jan 19, 2017 Thursday, January 19 2017 Thursday, January 19, 2017 6:42:00 PM CST in News
Columbia, MO
Broken Clouds 48°
1am 49°
2am 48°
3am 47°
4am 46°

Select a station to view its upcoming schedule:

Coming Up Next

11:37p
Late Night with Seth Meyers
12:37a
Last Call with Carson Daly
1:07a
The Insider
12:00a
Raising Hope
12:30a
Cheaters
1:00a
Cheaters

Tonight's Schedule

7:00p
Figure Skating
7:00p
Family Guy
7:30p
Family Guy
8:00p
Bob's Burgers
8:30p
Bob's Burgers
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld