Bart Reagor left an Amarillo Federal Courtroom with a partial acquittal on Friday afternoon. After a day and a half of deliberations, jurors issued their unanimous decision for Bart Reagor’s charges about 3:45 p.m.
Closing arguments began Thursday morning in Bart Reagor’s bank fraud trial at the Amarillo Federal Courthouse. As of 10:18 a.m., the case was handed to the jury. If he is convicted, he faces up to 90 years in federal prison.
During the second day of testimony in the bank fraud trial for Bart Reagor, the defense announced to U.S. District Judge Matthew J. Kacsmaryk they will not call Rick Dykes as a witness, with no explanation given.
In opening statements the prosecution presented one of its key exhibits, an email from Bart Reagor to former RDAG Chief Financial Officer Shane Smith and RDAG co-owner Rick Dykes titled “handling capital.”
Jury selection began Monday morning for the former co-owner of the bankrupt Reagor-Dykes Auto Group trial. Bart Reagor is on trial for charges including bank fraud. Specifically, illegally keeping part of a business loan for himself.
Bart Reagor and his wife Annette have been ordered to pay $2,715,760, plus pre-judgment interest, post-judgment interest and attorneys’ fees and costs in the amount of $38,560 to Universal Underwriters Services Corporation.
Fifteen former Reagor-Dykes Auto Group employees have pleaded guilty to various crimes involving “dummy flooring” and check kitting at the fallen auto giant. The first sentencings are set to happen on May 4, 2021 in Amarillo. The last will happen on July 27, 2021.
On Thursday, Bart Reagor, 55, was indicted by a federal grand jury on charges of bank fraud. Prior to Mr. Reagor’s indictment, 15 of his employees pleaded guilty to various crimes involving dummy flooring and check kitting at Reagor-Dykes.
International Bank of Commerce is asking a Lubbock County Court to collect more than $23 million from four banks. It’s filed against Bart Reagor’s accounts at Lubbock National Bank, AIM Bank, Wells Fargo and Prosperity bank.
As part of the resolution of the Third Amended Chapter 11 Plan of Liquidation for Reagor-Dykes Auto Group, the Trustee is prepared to announce the chance for former Reagor-Dykes consumers to assert claims for compensation.
More than two years after the first claims against the Reagor Dykes Auto Group, legal action continues as the creditor’s trust for the bankrupt company filed a lawsuit claiming AimBank ignored warning signs of fraud.
Businesses and individuals who were victims of fraudulent actions by employees of Reagor-Dykes Auto Group may be closer to receiving compensation after the third amended Chapter 11 liquidation plan was filed Tuesday.
Attorneys for the Reagor-Dykes Auto Group estate filed a motion late Monday morning claiming former CFO Shane Smith “cooked the books,” allowing him to take $527,076.81 commission payments he was not owed.
In a 33-page complaint filed Wednesday, the bankrupt auto group claims: “FMCC racked up millions in profits from interest that the Debtors paid and interest that consumers paid on vehicle deals that Reagor-Dykes originated.”
The plan will shut down the remaining business operations, sell off everything that is left, and will hand over the consumer issues to a creditors trustee and the consumer ombudsman. The plan also supports the settlement with Rick Dykes.
A motion for a proposed settlement submitted Thursday afternoon by Reagor-Dykes Motors, Rick Dykes and supported by the Texas Attorney General, would release Rick Dykes from all financial claims and/or causes of action in the Reagor-Dykes bankruptcy case.
In court documents filed Wednesday morning by a court appointed Special Litigation Counsel attorney for Reagor-Dykes estates, they claim FirstCapital “knowingly and intentionally participated in Shane Smith’s fraudulent schemes to defraud [Reagor-Dykes Auto Group] and their creditors.”
On the eve of a court hearing that may decide whether the Reagor Dykes estates stay in reorganization or are liquidated, new filings in the RDAG bankruptcy case by the Texas Attorney General reveal that Reagor Dykes has “resolved approximately 90 percent of the initial consumer issues.”
Twelve Reagor-Dykes Auto Group employees have pleaded guilty in federal court in connection to the auto giant criminal case. Three of those were set to be sentenced on two separate dates in January. All three sentencing hearings were cancelled.
Eleven people have pleaded guilty for their role in the Reagor-Dykes “fraud scheme.” The investigation reveals more than $40 million worth of “collateralized inventory that RDAG was unable to produce for inspection,” according to court documents.
A total of eight people have now pleaded guilty for their role in the Reagor-Dykes “fraud scheme,” according to the U.S. Attorney for the Northern District of Texas. The investigation reveals more than $40 million worth of “collateralized inventory that RDAG was unable to produce for inspection,” ac
First Bank & Trust has filed a motion asking the court to move the Reagor-Dykes companies from Chapter 11 bankruptcy, aimed at restructuring and preserving the dealerships, to Chapter 7 bankruptcy, which would liquidate all the assets and end Reagor-Dykes as a going concern.
Two more Reagor-Dykes Auto Group employees have pleaded guilty to fraud for their role in a $23 million check kiting scheme, allegedly under the direction of the auto group’s former Chief Financial Officer, Shane Smith.