Bart Reagor, the coowner of Reagor Dykes Auto Group, filed a motion to reduce his prison sentence, according to public records.
Reagor’s sentence was 14 years in federal prison after being convicted of making false statements to a bank during an October 2021 trail in Amarillo Federal Court. He faces being in prison until July 2033.
Reagor was accused of taking more than $1.7 million out of the company shortly after a $10 million loan from IBC Bank. Ford claimed the companies falsified paperwork to make it look like payments were not owed on vehicles when there were in fact payments due.
According to the motion, Amendments to the Sentencing Guidelines defined “substantial financial hardship” as something that would end with the victim unable to pay debts they owe, losing retirement and other savings, or making changes to living arrangements.
Following the Ford Motor Credit lawsuit and the bankruptcy filing, Ford said the Reagor company did not return demonstrator vehicles, register vehicles sold to consumers, pay off trade-in liens and failed to provide Ford with keys and titles to vehicle inventory, and left hundreds of customersin the crossfire at the time, many left without titles and permanent registration.
In his motion to reduce the sentence, Reagor stated, he stated he has been utilizing his time productively while in prison. Additionally, he stated he is not a violent offender and did not personally cause substantial financial hardship.