Bart Reagor found guilty on 1 of 3 federal charges

[TexasTowelie]

AMARILLO -- A 12-person federal jury on Friday found Bart Reagor, the former Reagor-Dykes Auto Group president and CEO, guilty of deceiving a bank when he applied for a multimillion-dollar working capital loan for his business in 2017.

Reagor, who did not testify at his trial, was charged with two counts of bank fraud and a count of making a false statement to a bank. Jurors returned their verdict after deliberating for more than a day, and found him guilty on the charge of making a false statement, but not guilty on the bank fraud charges.

Reagor's family gasped in court as the initial verdicts were announced.

He faces up to 30 years in prison and the forfeiture of property including more than $950,000 that was seized from Reagor's personal bank account. U.S. District Judge Matthew Kacsmaryk will determine Reagor's punishment at a sentencing hearing to be set after a pre-sentencing report is completed. Each charge carries a punishment of up to 30 years in prison. Reagor will remain out on bond while he awaits sentencing.

Read more: https://www.amarillo.com/story/news/courts/2021/10/15/bart-reagor-verdict-returned-federal-bank-fraud-trial-amarillo/8447439002/

The bank took a $20 million loss, somebody has to be held responsible.

[RockRaven]

1. Prepare to be disappointed in the sentence...

Journalists always quote the statutory maximums, rather than reckoning with the federal sentencing guidelines table. Or the reality that judges often undershoot even that.

[TexasTowelie]

2. I'm certain that his contributions to civic and social causes in the Lubbock area

will be noted as part of his sentencing. However, considering the amount of money that IBC and Ford Motor Co. were ripped off, I would be surprised if it were less than 5 years. The sentence will also be appealed, so it will be awhile before he ever sees the inside of a jail cell.