Contact Us

Former Missouri Bank President Sentenced in Fraud

GavelJEFFERSON CITY, Mo. (AP) — The former chairman of a mid-Missouri bank was sentenced to two years of probation for using federal bailout money to buy a luxury condominium in Florida.

Darryl Layne Woods, former chairman of the Mainstreet Bank, based in Ashland, was Tuesday for a misdemeanor of making a false writing.

Prosecutors say he spent $381,000 of the bank’s bailout money to buy the condominium in Fort Myers, Fla. Woods will serve eight months in a halfway home, followed by four months of home detention and a year on supervised probation. He also must pay about $97,000 in restitution and a $10,000 fine.

The Columbia Daily Tribune reports Woods used money from the Troubled Asset Relief Program, or TARP, which was intended to help banks during the recession.

Best of KSIS Radio

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://ksisradio.com using your original account information.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for KSIS VIP Club quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive KSIS VIP Club contests, events, coupons, presales, and much more delivered to you for FREE.