Ashland Bank Under Investigation for Fraud
ASHLAND - Mainstreet Bank of Ashland is under investigation for bank fraud and misusing federal funds.
Sheriff's deputies served CEO John Cochran with documents Tuesday morning. The lawsuit brought against the bank was filed by former employee Leslie McLeland, who says she was asked to lie on legal documents.
Among the many allegations, former CEO Darryl Woods went around federal regulations and used nearly $400,000 to buy a condo in Florida with money that wasn't his.