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Banker gets 23 years for TARP fraud, must repay $333 million

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Edward Woodard, former CEO of the Virginia Bank of the Commonwealth, was sentenced to 23 years in federal prison for masterminding a massive fraud scheme that led to the bank's failure. That failure also cost the Federal Deposit Insurance Corporation $333 million, according to a report by Christy Romero, Special Inspector General for the Troubled Asset Relief Program. “This is the...