Banker Admits to Using Bailout Funds for Condo

3 years 4 weeks 2 days 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 – More than 150 people registered to participate in a walk at Stankowski Field Sunday morning to raise awareness... More >>
7 hours ago September 25, 2016 Sep 25, 2016 Sunday, September 25 2016 Sunday, September 25, 2016 4:34:00 AM CDT in News
COLUMBIA - The Columbia Police Department responded at 8:16 p.m. Saturday to a shooting outside of a home at 2800... More >>
14 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 9:35:00 PM CDT in Continuous News
COLUMBIA- On Saturday, Meals with Mom brought together mothers and their children to make homemade pizza rolls and desert. ... More >>
17 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 7:08:00 PM CDT in News
WARSAW (AP) — A 51-year-old Springfield man already in prison on drug charges has been sentenced to life in prison... More >>
18 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 5:58:00 PM CDT in News
JOPLIN (AP) — A former Joplin police officer has pleaded guilty to a federal charge for offering to help a... More >>
19 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 5:32:00 PM CDT in News
FULTON - Fulton Police arrested two siblings Saturday morning at a residence on the 900 block of Lyle Street. ... More >>
19 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 5:20:00 PM CDT in News
COLUMBIA - A 41-year-old man was accused of beating his significant other with a hammer Friday, according to the Boone... More >>
20 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 4:03:00 PM CDT in News
JEFFERSON CITY - The Old Munichburg Association brought the community out to celebrate German culture during Saturday's Oktoberfest. The... More >>
20 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 3:52:00 PM CDT in News
COLUMBIA - MU Children's Hospital held a tailgate for the MU vs. Delaware State football game Saturday. With help... More >>
21 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 3:15:00 PM CDT in Continuous News
KANSAS CITY, Mo. (AP) — A 25-year-old man was struck and killed after he got out of a vehicle stopped... More >>
21 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 2:50:51 PM CDT in News
COLUMBIA - Missouri Tigers' quarterback Drew Lock threw for 402 yards and five touchdowns, including four to wide receiver J’Mon... More >>
22 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 2:22:00 PM CDT in Sports
HAZELWOOD (AP) — St. Louis area police said injuries have been reported after a car hit people waiting for a... More >>
22 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 1:51:48 PM CDT in News
COLUMBIA - This morning officers confirmed a report of shots fired in the area of Arlene Drive and Gillespie Bridge... More >>
23 hours ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 12:54:00 PM CDT in Top Stories
KANSAS CITY, Mo. (AP) — One person was killed when a vehicle plunged into a Kansas City area lake. ... More >>
1 day ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 12:15:43 PM CDT in News
ROGERSVILLE (AP) — A 13-year-old Missouri boy who's mowing lawns for free for single mothers, senior citizens and the disabled... More >>
1 day ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 11:30:43 AM CDT in News
KANSAS CITY (AP) — Republican presidential nominee Donald Trump tried unsuccessfully to buy a Kansas City casino in 1999, but... More >>
1 day ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 10:50:02 AM CDT in News
COLUMBIA – Puppies with Purpose, a CHAMP Assistance Dogs, Inc. program gives puppies the opportunity to train to become assistance... More >>
1 day ago September 24, 2016 Sep 24, 2016 Saturday, September 24 2016 Saturday, September 24, 2016 8:35:00 AM CDT in Top Stories
COLUMBIA - A 23-year-old man is accused of breaking into the MU Alpha Chi Omega sorority house Thursday. John... More >>
1 day ago September 23, 2016 Sep 23, 2016 Friday, September 23 2016 Friday, September 23, 2016 10:40:00 PM CDT in News
Columbia, MO
Broken Clouds 82°
1pm 80°
2pm 79°
3pm 78°
4pm 77°

Select a station to view its upcoming schedule:

Coming Up Next

12:00p
Road to the Ryder Cup
12:30p
PGA Tour Golf
5:00p
KOMU 8 News @ 5
12:00p
Family Guy
12:30p
Family Guy
1:00p
Made in Hollywood

Tonight's Schedule

6:00p
Football Night in America
7:20p
Sunday Night Football
6:00p
Naked Gun 33 1/3: The Final Insult
8:00p
Paid Program
8:30p
Cops Reloaded
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld