Bart Reagor (reagordykesautogroup.com via Internet Archive)
AMARILLO – The man whose face was once plastered all over the South Plains is now facing 14 years in prison. Bart Reagor, former CEO of the Reagor-Dykes Auto Group, was sentenced to 168 months in federal prison Thursday afternoon in Amarillo.
Reagor, whose businesses once included Floydada’s Chevrolet dealership, was found guilty last October of lying to the International Bank of Commerce about his personal use of part of a $10 Million business capital loan for the dealership chain. He was ordered to pay more than $9 Million back in restitution.
Reagor told members of the media he would appeal the sentence, but called the judge ‘fair’ in his ruling.
In a statement, U.S. Attorney for the Northern District of Texas Chad Meacham called out Reagor for his fraud. “Instead of doing his best to grow his business honestly, he padded his personal bank account by lying to a federally-insured bank. I imagine he will spend the next 14 years behind bars regretting that decision.”
The Reagor-Dykes Auto Group closed following a check kitting scandal in August, 2018. According to the Department of Justice 15 of Reagor’s employees accepted guilty pleas for their role in the scheme, including Floydada office manager Paige Johnston, who pleaded guilty in October 2019 to conspiracy to commit wire fraud.
