Former RDAG employee Steven Reinhart sentenced to 6 months in prison, $40 million restitution

LUBBOCK, Texas (KCBD) - Former Legal Compliance Director for Reagor-Dykes Auto Group Steven Reinhart has been sentenced after pleading guilty last year to charges related to check kiting and floor plan fraud.

Reinhart appeared before U.S. District Judge Matthew Kacsmaryk in the U.S. Courthouse in Amarillo, Thursday afternoon, and was sentenced to 6 months in federal prison and ordered to pay $40 million in restitution. He pleaded guilty in February 2021 to misprision of a felony.

Reinhart is one of 15 former employees who pleaded to guilty to various crimes involving “dummy flooring” and check kiting at the auto group. He and former CFO Shane Smith are the last two to be sentenced. Smith is expected to be sentenced on Jan. 20, according to court records.

The two testified in Bart Reagor’s trial back in October, 2021.

Reinhart testified in trial on the loan and Reagor’s distributions of it, telling the jury this was a working capital loan and “I would have told him that you can’t move the proceeds of that loan into personal or private accounts.”

PREVIOUS COVERAGE: Shane Smith, Steven Reinhart expected to testify in Bart Reagor trial

Copyright 2022 KCBD. All rights reserved.