AMARILLO, Texas (KAMR/KCIT) — After the defense’s initial motion for United States District Judge Matthew J. Kacsmaryk to acquit Bart Reagor, or for him to receive a new trial, after a jury convicted Reagor of one count of making false statements to a bank, officials with Reagor’s defense team is responding to the prosecution’s response, continuing to stress that there was no evidence to charge Reagor.
According to previous reports by MyHighPlains.com, the Reagor-Dykes Auto Group co-founder was found guilty of one count of making false statements to a bank while finding him not guilty on two counts of bank fraud by a jury in October.
During the trial, jury members heard from multiple witnesses from both the prosecution and the defense, presenting their respective cases on whether or not Reagor intentionally lied to the International Bank of Commerce (IBC), using $1,766,277.77 out of a $10 million capital loan for personal gain after officials told the bank that it was solely to be used for the growth of the auto group.
In the defense’s initial motion, officials stated that the definition of “working capital” was unclear through the trial, stressing that Reagor had the belief that he could use those loan funds to provide owner distributions as “working capital.”
In the prosecution’s response, officials referenced an email Reagor sent to Shane Smith, the auto group’s former chief financial officer, and Reagor-Dykes Auto Group co-founder Rick Dykes, outlining the process of...
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