Reagor Dykes Coverage

RDAG Trust files suit, claims AimBank helped facilitate check kiting scheme

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.

Documents reveal former RDAG CFO took $527,000 in inflated commissions

  Complaint claims Ford knew of RDAG fraud, owes more than $315 million

End may be in sight with proposed liquidation plan for RDAG bankruptcy

  Proposed settlement would release Rick Dykes in RDAG bankruptcy case

  Another RDAG employee pleads guilty in auto giant criminal case

Bankruptcy judge approves Vista Bank’s $7.5M settlement with RDAG estate

Continued Coverage

RDAG Complaint: Smith told FirstCapital exactly what he was doing

Wednesday RDAG bankruptcy hearing continued until March

Vista Bank agrees to pay $7.5M, drops all claims and demands in RDAG case

Attorney General weighs in on Reagor Dykes case

FirstCapital asks judge to end RDAG reorganization plans, forcing liquidation

  ‘Vista Bank aided and abetted’ RDAG CFO’s fraud

All 3 January sentencing hearings in RDAG criminal case cancelled

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.

Reagor-Dykes Criminal Charges Growing

The number of guilty pleas in the Reagor-Dykes floor plan fraud scheme has grown after another employee pleaded guilty to conspiracy to commit wire fraud.

11 people plead guilty in Reagor-Dykes floor plan fraud scheme

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.

Former RDAG CFO Shane Smith’s executive assistant pleads guilty to bank fraud conspiracy

Ashley Nicole Wood was hired by Reagor Dykes Auto Group to be the executive assistant for former Chief Financial Officer Shane Smith in 2014.

Lubbock judge orders Bart Reagor to pay Vista Bank nearly $1.8 million

8th person pleads guilty to fraud in Reagor-Dykes federal case

2 more Reagor-Dykes employees plead guilty in ‘fraud scheme’

Hearing set for Reagor-Dykes Auto Group, FirstBank & Trust settlement

First Bank & Trust urges court to move forward with liquidation of Reagor-Dykes

2 female employees plead guilty to conspiracy to commit fraud in RDAG case

Judgement: Bart Reagor owes Ford Motor Credit $53,759,450.96

Lubbock’s federal district court convened Thursday to formally determine the amount of money Bart Reagor owes Ford Motor Credit.

Federal judge issues gag order in Ford case against Bart Reagor

Bart Reagor has been barred by a federal judge from commenting on a current case against Ford Motor Credit to the public. This gag order, as it’s known, was issued today, Oct. 3.

Ford takes Reagor to court to find out how much he owes

Ford Motor Credit and Bart Reagor were in federal court on Wednesday, to try and determine how much Bart Reagor owes to Ford Motor Credit.

Sentencing rescheduled for Shane Smith, former Reagor-Dykes CFO

The sentencing hearing for Shane Smith, the former CFO for the Reagor-Dykes Auto Group who pleaded guilty to one count of wire fraud, has been rescheduled for 1:30 p.m. on Jan 7.

Creditors set to vote on RDAG reorganization plan

A federal bankruptcy court approved a Reagor-Dykes disclosure statement on Tuesday, laying out a timeline for creditors to file objections and vote on the proposed reorganization.

  2 Reagor-Dykes employees plead guilty to bank fraud conspiracy

Two former employees with the Reagor-Dykes Auto Group pleaded guilty 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.

RDAG proposes $13 million reorganization plan to re-establish dealerships

A second reorganization plan has been submitted to a federal bankruptcy court that would allow a Reagor-Dykes Auto Group plan sponsor $13 million for re-organizational operating costs. This has yet to be approved by the court.

Bank sues Ford Credit in connection to Reagor-Dykes bankruptcy

As the calendar inches closer to the one year mark since the Reagor-Dykes Auto Group’s bankruptcy, a bank that backed the group for millions of dollars is suing the company they say started the chain reaction of events.

Hearing rescheduled to see how much money Ford Motor Credit can get from Bart Reagor

A reorganization hearing in the Reagor-Dykes Auto Group bankruptcy case was scheduled to take place Thursday, July 11, but was rescheduled.

Reagor-Dykes submits reorganization plan ahead of July 11 hearing

As of July 1, Reagor-Dykes Auto Group exists basically on paper and in the memories of West Texans. On Monday crews could be seen taking the familiar ‘RD’ logo off the company’s headquarters in downtown Lubbock.

  Bart Reagor breaks silence on fraud allegations: “I had no idea”

It's been almost a year since Bart Reagor last talked with the media, but Monday he broke his silence on his terms.

Attorneys for Reagor-Dykes hope reorganization plan to be finalized by September

A plan has been drafted to conclude the bankruptcy case for the Reagor-Dykes Auto Group. The hope is it will be completely prepared by the end of July and confirmed by September.

Former Reagor-Dykes CFO Shane Smith to be sentenced in October

One day after former Chief Financial Officer for the Reagor-Dykes Auto Group, Shane Smith, pleaded guilty to one count of conspiracy to commit wire fraud by getting money through false documents, the court has scheduled the sentencing for October 1 at 9 a.m.

  Shane Smith, former Reagor-Dykes CFO, pleads guilty to wire fraud

The former Chief Financial Officer for the Reagor-Dykes Auto Group, Shane Smith, has pleaded guilty to one count of conspiracy to commit wire fraud by getting money through false documents.

Court date set for Reagor-Dykes damages settlement, though Reagor disputes amount owed

July 11 is the date set for Ford Motor Credit Company and Bart Reagor to settle the amount owed to Ford after the Reagor-Dykes Auto Group filed for Bankruptcy on Aug. 1.

Reagor: We’ve paid Vista Bank back

Just two days before items from his former auto conglomerate go on the auction block, Attorneys for Bart Reagor say he already paid back the $3 million loan Vista Bank sued him over earlier this year.

Auction of hundreds of Reagor-Dykes items set for Saturday

By order of Ford Motor Credit, thousands of items that previously belonged to the Reagor-Dykes Auto Group will be auctioned off Saturday morning to pay back some of the remaining $46 Million the former dealership group owes their main creditor.

Ford: Reagor owes $7,000 a day in interest

On the heels of last month’s ruling by U.S. District Judge Sam Cummings that Bart Reagor is required to pay back Ford Motor Credit, the auto giant has come up with a number and a hefty amount of interest owed.

  Judge denies objection, rules Reagor must repay Ford Motor Credit

Bart Reagor will have to join his former business partner Rick Dykes in paying Ford Motor Credit millions of dollars as the co-guarantor of the Reagor-Dykes Auto Group.

RDAG Attorneys: progress made in TT&L isssues

Wednesday’s update from attorneys for the Reagor-Dykes Auto Group in their ongoing bankruptcy hearing could be summed up in one word... progress.

IBC files petition against Reagor Dykes, seeking $26 million

International Bank of Commerce Oklahoma filed a petition against several Reagor Dykes companies and personally against Bart Reagor and Rick Dykes on Wednesday, claiming they have defaulted on millions of dollars worth of loans and promissory notes.

State suing Reagor,Dykes for dealership sales taxes

The State of Texas is now involved in the ongoing legal chaos surrounding the former Reagor-Dykes Auto Group.

Reagor-Dykes creates new portal for customers with TT&L issues

Friday afternoon KCBD learned that in the first week of the portal being online, the Lubbock Tax Assessor-Collector’s office has processed 31 titles for former Reagor-Dykes customers.

  Sales tax, title relief now possible after Reagor-Dykes judgment

Judge Robert Jones agreed on a motion Wednesday that would eliminate the sales tax for Reagor-Dykes Auto Group customers in Lubbock County that are in the vehicle registration process.

Bart Reagor, wife deny $2.4 million breach of contract complaint

Bart and Annette Reagor are demanding a trial by jury on all matters that may be tried. They’re also asking the judge to dismiss Universal’s complaint. Bart and Annette are also asking for the recovery of their costs and attorneys’ fees and for “further relief to which they may be justly entitled.”

No resolutions in RDAG hearing, though attorneys say they are making progress in TT&L issues

Wednesday afternoon’s hearing in federal court offered no resolutions, though attorneys did tell the court they are making progress. The majority of items on the agenda were moved to later this month or next.

Rick Dykes agrees to a $58 million judgment

Ford Motor Credit Company LLC and Rick Dykes have agreed to a judgment saying Dykes personally owes Ford more than $58 million. The motion was filed today in the U.S. District Court.

  Universal Underwriters sue Bart Reagor, wife for more than $2.4 Million

Universal Underwriters Service Corporation, a company who provides protection products for customers buying a vehicle, is suing Bart and Annette Reagor for $2,471,650.64 plus all attorneys’ fees, costs and expenses. According to the contract between Universal and Reagor-Dykes Auto Group, Bart and An

  Rick Dykes reveals corruption, secrets, affairs within RDAG in witness statement

Rick Dykes has issued a new witness statement in the form of a timeline after Vista Bank again amended their lawsuit against FirstCapital Bank, Brad Burgess and Kenneth Burgess Jr. to recover more than $6 million in damages. They’re claiming FirstCapital had insider information they obtained through

  Some Reagor-Dykes Auto Group customers still stuck in limbo after agreement filing

It’s been 232 days since the Reagor Dykes Auto Group (RDAG) filed bankruptcy. Nearly eight months later, there are some customers still paying for vehicles they traded to the dealership in the weeks leading up to that filing.

  Reagor-Dykes Customer Relief? TT&L issues may be resolved soon

Reagor Dykes Auto Group, Lubbock County, the Texas Comptroller and the Texas Department of Motor Vehicles have filed a notice that they have agreed to a resolution for the 656 remaining consumer title issues involving tax, title and license fees in Texas.

  Hundreds of Reagor-Dykes customers still fighting for tags, vehicle registrations

As the ongoing bankruptcy hearings for the Reagor-Dykes Auto Group drag into their eighth month, hundreds of customers remain trapped between the auto group and their local tax collector’s office.

Judge rules AimBank can sell RDAG CDs to pay outstanding checks

Judge Robert Jones has ruled an agreement between Levelland-based AimBank and two Reagor-Dykes dealerships can move forward despite objections from GM Financial.

  Vista Bank files civil suit against Bart Reagor for $1.45 million

Vista Bank has filed a civil lawsuit in Lubbock County court against Bart Reagor saying he is personally in default $1,448,401.23 on a loan, because he signed a personal guarantee on the note.

RDAG ordered to pay $349k in rent by tomorrow for Mitsubishi location

Eighty Second Street Investments LLC and Lubbock Windmill Real Estate LLC have filed court documents that orders the Reagor-Dykes Auto Group to pay up or move out.

GM Financial allowed to reclaim vehicles from Reagor-Dykes

GM Financial will soon be able to take back cars, trucks and SUV’s currently sitting on Reagor-Dykes Auto Group dealership lots.

  Dykes Affidavit: “Ford Credit knew or should have known”

Rick Dykes lays the blame for the collapse of his dealership group at the feet of Shane Smith, Ford Motor Credit, and Ford employee Gary Byrd.

Mediation scheduled for Ford, Reagor-Dykes in Dallas

The time and place for mediation between Ford Motor Credit and Reagor-Dykes Auto Group has been set, and now KCBD has learned one interested party will no longer be in attendance.

  Judge orders Ford Motor Credit to attend mediation with Reagor-Dykes

A crowd of more than one dozen attorneys were in Judge Robert Jones’ courtroom Thursday to plead their cases in the ongoing Reagor-Dykes reorganization.

  Reagor-Dykes ordered to leave 82nd Street location

Eighty Second Street Investments LLC and Lubbock Windmill Real Estate LLC have filed court documents that ordered the Reagor-Dykes Auto Group to vacate its Mitsubishi dealership on 82nd Street.

Ford objects to motion for RDAG global mediation

Ford Motor Credit Company LLC filed a motion Thursday morning objecting to Reagor-Dykes Auto Group’s motion to compel global mediation.

  FirstBank & Trust: RDAG not sincerely interested in compromise, settlement

FirstBank & Trust officials filed a response in opposition to Reagor Dykes Auto Group’s motion to compel global mediation in their bankruptcy case on Wednesday.

Attorneys for Reagor, Dykes ask for more time after Ford wants $109 million

Attorneys for Bart Reagor and Rick Dykes are asking a district court to grant more time to find evidence disproving Ford Motor Credit’s claim that both Reagor and Dykes had a direct hand in committing an act of fraud.

RDAG files motion requesting mediation, McDougal agrees to participate

Attorneys with Reagor-Dykes Auto Group have filed an emergency motion to compel global mediation involving the McDougal Group.

  Ford wants $109 million from Bart Reagor and Rick Dykes

In court documents filed on Feb. 4 in civil court, Ford Motor Credit wants Bart Reagor and Rick Dykes to pay $109,091,460.95 following a “massive fraud” which happened on Reagor and Dykes' watch.

Reagor-Dykes files appeal in ruling allowing Ford’s relief request

On Jan. 17, Judge Robert Jones cleared the way for Ford Motor Credit to take back vehicles sold to Reagor-Dykes Auto Group. In a late afternoon filing on Jan. 31, officials with Reagor-Dykes Auto Group filed an appeal with the bankruptcy judge.

  McDougal Companies out of Reagor-Dykes restructuring plans

In a surprising move from McDougal Companies, officials sent a news release saying they’re “ceasing discussions in the Reagor-Dykes Auto Group bankruptcy.”

McDougal, Ewing Auto Group invited to ‘global settlement’ meeting about Reagor-Dykes Auto Group

McDougal Companies has been invited to Dearborn, Michigan by Ford Motor Credit to attend a “global settlement” meeting. Ewing Auto Group out of the Dallas area has also been invited. The meeting is to discuss and possibly solve problems related to the bankruptcy of Reagor-Dykes Auto Group.

RDAG approved to use additional cash collateral

Attorneys for Reagor-Dykes Auto Group were back in federal bankruptcy court Wednesday on a number of matters related to the dealership group’s ongoing bankruptcy case.

Judge: Ford allowed to immediately repossess vehicles from RDAG lots

Court documents filed today say the bankruptcy judge has granted Ford Motor Credit the ability to immediately repossess their vehicles from Reagor-Dykes Auto Group.

Judge rules Toyota can revoke Reagor-Dykes dealership

On the same afternoon attorneys for Reagor-Dykes Auto Group learned a Lubbock bankruptcy judge will allow Ford Motor Credit to repossess vehicles, attorneys also learned Gulf States Toyota can sever their agreement with the auto group’s Plainview Toyota dealership.

  Court rules Ford Credit can repossess vehicles from Reagor-Dykes

Judge Robert Jones has cleared the way for Ford Motor Credit to take back vehicles sold to Reagor-Dykes Auto Group. In the ruling Thursday, Judge Jones approved Ford’s relief request from the automatic stay motion filed eight days after Reagor-Dykes' initial bankruptcy.

Judge approves motion for interim financing in RDAG case

In a federal courtroom filled with mostly attorneys and members of the media, Judge Robert Jones approved Reagor-Dykes' request for immediate use of cash collateral to continue operating.

  Judge delays decision in Reagor-Dykes reorganization plan

Following five hours of testimony Tuesday, Judge Robert Jones announced he will make his decision on Reagor-Dykes' reorganization plan Wednesday afternoon.

Reagor-Dykes bankruptcy hearing

Right now, Reagor Dykes Auto Group is presenting its Chapter 11 plan to the court.

Ford attorneys: RDAG claims ‘reckless’ and ‘completely false’

In a legal reply filled with enough rebuttals for a scripted television drama, attorneys for Ford Motor Credit took issue with a number of claims by attorneys for Reagor-Dykes Auto Group Monday evening.

Reagor-Dykes Auto Group files reorganization plan

In a 60 page document filed Monday afternoon, Reagor-Dykes Auto Group submitted a plan of reorganization to the bankruptcy court.

RDAG response to Ford: ‘Reagor-Dykes is not dead, not out of money’

"Contrary to Ford Motor Credit Company LLC’s (Ford Credit) assertion that ‘there is no prospect for a reorganization,’ Reagor-Dykes is not dead. Reagor-Dykes is not out of money. Reagor-Dykes is not without a plan to restructure its debts and recapitalize its business."