NORFOLK, Va. (AP) -- A Virginia man has been sentenced to eight years in prison for his role in the collapse of a Virginia bank that his father ran.
The Virginian-Pilot reports (http://bit.ly/17jRNed) 37-year-old Troy Brandon Woodard was sentenced Monday in federal court in Norfolk.
Woodard was vice president of a subsidiary of Bank of the Commonwealth. He was convicted earlier this year of conspiring to defraud the bank and unlawful participation in a loan.
The jury found he illegally obtained loans at favorable rates and without fees and that he also illegally obtained commissions on loans he referred to the bank. He also conspired with other troubled bank customers to unload unsuccessful real estate.
Woodard's father, Edward J. Woodard Jr., is scheduled to be sentenced Nov. 6 for his role in the conspiracy.
Information from: The Virginian-Pilot, http://pilotonline.com
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