Former RDAG CFO Shane Smith sentenced to seven years in fraud scheme
AMARILLO - Former Reagor-Dykes Auto Group chief financial officer Shane Smith, who admitted to orchestrating a multi-million dollar fraud scheme that toppled the company, was sentenced Thursday in a federal court in Amarillo to seven years in prison.
U.S. District Court judge Matthew J. Kacsmaryk handed Smith an 84-month sentence after an hourlong sentencing hearing in his courtroom at the federal courthouse in Amarillo.
Smith, 45, is also ordered to pay more than $59 million in restitution and was given until March 28 to report to the Bureau of Prisons to begin serving his sentence. He will be on community supervision for a year after he is released from prison.
Smith, who has been out on bond, faced up to 20 years in prison after pleading guilty to a count of conspiracy to commit wire fraud.
Read more: https://www.lubbockonline.com/story/news/courts/2022/01/20/shane-smith-sentenceshane-smith-sentenced-for-fraud-d-fraud/6595965001/