Justice Department wants Reagor to pay back $1.7 million
LUBBOCK, Texas (KCBD) - The Justice Department has asked a federal judge to order Bart Reagor to forfeit the money he used for personal expenses out of an IBC bank loan.
The forfeiture motion would require him to pay back more than $1.7 million that came from an International Bank of Commerce note worth $10 million, money that the bank said was intended for the Reagor-Dykes Auto Group.
A jury convicted Reagor of lying about moving a portion of that federally-insured money into his personal accounts.
Now the DOJ is asking the judge to make him forfeit that same amount back to the government.
The U.S. attorneys do intend to credit Reagor for about $950,000 the FBI seized from his bank accounts.
The defense will likely file a response opposing this motion.
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