Bart Reagor fraud trial begins Tuesday in Amarillo
AMARILLO, Texas (KCBD) - The former co-owner of the bankrupt Reagor-Dykes Auto Group will go on trial for fraud next week.
Bart Reagor will face a judge and jury, accused of illegally moving and using money from a federally-insured loan.
FULL COVERAGE: Reagor-Dykes bankruptcy, trial coverage
Prosecutors say he improperly used nearly $2 million out of a $10 million note with International Bank of Commerce. That would violate the loan agreement.
The Justice Department intends to show Reagor knew what he was doing, and by not disclosing what he was using the money for, defrauded the bank.
Court records indicate the defense will focus on that agreement, not forcing Reagor to disclose the money’s purpose or use.
The trial will also bring co-owner Rick Dykes to the stand, to testify that he did the same thing with the loan money, and the Justice Department has not charged him.
The trial is set to start in Amarillo on Tuesday. We’ll have coverage for you all week.
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