Day 1: Ford Credit claims Bart Reagor owes $54 million
The first day of the of the Ford Motor Credit v. Bart Reagor trial concluded Wednesday at the Lubbock Federal Courthouse with an amount of money the agency claimed Reagor now owes.
After five hours arguing to a jury about the total amount, Ford Credit's attorneys said Reagor needs to pay about $54 million for violating its dealership agreements he signed.
Reagor's attorneys said there is a gap in the audit information and that the total amount is way off.
"Someone needs to explain how in June 2018, Ford came in with all of their auditor guys and everything was great, and then a month later, suddenly 1,200 cars were missing? I think their math is bad," Wayne Dolcefino, Reagor's spokesman, said.
In its opening statement, Ford Motor Credit argued its case is all about the numbers, not emotion.
A Ford Credit specialist then testified for hours, helping break down the $54 million the agency claimed Reagor owes -- piece by piece, balance sheet by balance sheet.
Reagor's attorneys, however, made multiple attempts to undermine the witness's credibility for not having on-site involvement.
While Reagor's attorneys said they believe Ford's numbers will prove to be contradictory, they also want the jury to consider the emotions involved in this case.
"I think Bart Reagor is the guy who was betrayed the most in this deal because Bart Reagor had people he trusted doing this financial stuff. That wasn't Bart Reagor's thing. Bart Reagor was the guy you saw in TV commercials. Bart Reagor was the guy that was doing all of the charity stuff. The financial people that he had and trusted, who came from Ford Motor Credit in fact, turned out to be thieves and liars," Dolcefino said.
The trial is set to resume Thursday at 8:30 a.m.