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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.

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.

http://www.cnbc.com/id/100991958

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