Shane Andrew Smith, the final defendant charged with a massive fraud scheme that caused the crash of the Reagor-Dykes Auto Group, was sentenced Thursday to seven years in prison.
October 15, 2021 Reagor Dykes Auto Group owner Bart Reagor was convicted today of lying to a bank about his company's prospects, announced Acting U.S. Attorney for the Northern District of Texas Chad Meacham.
The thirteenth Reagor Dykes Auto Group employee was sentenced for her role in the auto group s floor plan fraud scheme, announced Acting U.S. Attorney for the Northern District of Texas Prerak Shah.
Andrea Kate Phillips pleaded guilty in January to misprision of a felony. On Tuesday, she was sentenced to 4 years probation and ordered to pay $40,254,297.72 in restitution by U.S. District Judge Matthew J. Kacsmaryk.
In plea papers, Ms. Phillips, an accounting associate and office manager at Reagor Dykes Plainview LP (a Ford store in Plainview, Texas) admitted the auto group participated in a fraudulent floor plan fraud scheme.
13th Former Reagor-Dykes Employee Sentenced to Prison
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The 13th former Reagor-Dykes employee has been sentenced for their role in the fraud scheme that ultimately led to the company s downfall in August 2018.
KAMC News reports that back in January 2021, 40-year-old Andrea Kate Phillips, former accounting associate and officer manager for Reagor-Dykes Plainview LP, pleaded guilty to misprision of a felony. This means that she deliberately concealed her knowledge of a felony.
According to a press release from the United States Attorney’s Office for the Northern District of Texas, Phillips has been sentenced to 4 years of probation and must pay $40,254,297.72 in restitution.
12 former Reagor-Dykes employees sentenced to prison, ordered to pay restitution
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LUBBOCK, Texas (KCBD) - Twelve of the 15 former Reagor-Dykes Auto Group employees have now been sentenced to serve time in prison and are required to pay restitution monthly.
The latest, Ashley Nicole Dunn, was sentenced on May 25 to 30 months in federal prison and ordered to pay $19,335,901.10 in restitution; she is to self-report on July 12, 2021.
On April 22, 2021, Bart Reagor, 55, was indicted by a federal grand jury on charges of bank fraud. If convicted, he faces up to 90 years in federal prison, and will be required to forfeit any property traceable to the offense.