Ahead of sentencing, judge to consider Bart Reagor’s flight risk
LUBBOCK, Texas (KCBD) - U.S. District Judge Matthew J. Kacsmaryk filed an order on Monday telling the prosecution and defense in Bart Reagor’s sentencing to brief the court on whether Reagor should be remanded into custody or allowed to voluntarily surrender following his sentencing hearing on Thursday.
The order reads that the person who has been found guilty needs to be detained unless the judicial officer finds the person is not likely to flee or pose a danger to the safety of any other person or the community if released.
“The Court has been notified by the United States Probation Officer that in her assessment, Reagor does not appear to be a risk of danger, but his overseas assets coupled with the “continued unascertained monthly cash flow” could be considered risk factors for flight.
The parties are ordered to brief the court by Tuesday, March 8 at 5 p.m.
In October, a jury convicted Reagor of making a false statement to a bank. Specifically, he transferred more than $1.7 million to his personal accounts from a $10 million working capital loan provided by International Bank of Commerce, intended to be used solely for the Reagor-Dykes Auto Group.
In late December, a judge denied Reagor’s request for a new trial or acquittal, citing evidence referenced by both defense attorneys and federal prosecutors, specifically an email from Reagor to RDAG CFO Shane Smith and co-owner Rick Dykes, “expressly stating ‘confidential’ instructions for the diversion of loan proceeds.”
The Judge also cited trial testimony from International Bank of Commerce President and CEO Bill Schonacher, saying he would not have approved the loan if Reagor had told him in April of 2017 of his intention to distribute part of the loan. RDAG Legal Compliance Director Steven Reinhart also testified that had he known Reagor’s intentions, he would have told him he couldn’t move these funds to personal accounts.
FBI Special Agent John Whitworth’s testimony was also cited, saying in trial $1.7 million from the IBC loan was diverted to Reagor’s personal accounts and used to pay for renovations to Reagor’s “mansion... on 19th Street.” In the trial, a recording was presented of Reagor stating his displays of wealth, including planes and his mansion, made him “a bad motherf-----er.”
Reagor is scheduled to be sentenced in Amarillo March 10. Reagor faces up to 33 years in prison.
Former Reagor-Dykes chief financial officer Shane Smith was sentenced last month to seven years in prison and ordered to pay more than $59 million in restitution. This was the longest prison sentence and greatest restitution amount of the 15 former Reagor-Dykes employees sentenced.
Copyright 2022 KCBD. All rights reserved.
