NYT: Bank executive admits to using bailout money to buy condo

In November 2008, during the depths of the financial crisis, Darryl Layne Woods, a bank executive in Missouri, applied to the United States Treasury for bailout money. His bank received $1 million.

Just days later, Mr. Woods used $381,000 of that money to buy a waterfront condominium in Fort Myers, Fla.

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On Tuesday, Mr. Woods, the former chairman of Mainstreet Bank in Ashland, Mo.,pleaded guilty to criminal charges in Federal District Court in Jefferson City, Mo.



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