Bank official stole government money? Not surprised

By Kelly Cohen
Published August 27, 2013 4:00am ET
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Bank official stole government money? Not surprised
Darryl Layne Woods, the former chairman and chief financial officer of Mainstreet Bank in Ashland, Mo., used $381,487 in Troubled Asset Relief Program funds to buy himself a luxury vacation condo in Southwest Florida. (Thinkstock) | Cody Ward

A luxury vacation condominium in Fort Myers, Fla., sounds ideal at first — until it leads to jail time.

Darryl Layne Woods, 48, of Columbia, Mo., pleaded guilty in federal court Monday to misleading federal investigators about the use of bailout money his bank received in 2009.

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Federal Bailouts Federal Budget Finance Fiscal Policy Follow the Money Kelly Cohen Toxic Asset Relief Program Treasury Department Waste and Fraud