AMARILLO, Texas — Prosecutors filed a motion Tuesday that, if approved, Bart Reagor must forfeit $1.76 million. Reagor was found guilty in October of making a false statement to a bank.
Testimony and evidence from Reagor’s trial showed that he withdrew $1.76 million from the Reagor Dykes company in 2017. He did so after RDAG took out a $10 million loan from IBC Bank. Testimony from the bank indicated that Reagor did not disclose his intention to take money, and the loan was not intended for Reagor’s benefit.
The FBI seized $950,951.18 from Reagor’s account in November 2018. Prosecutors want that money to be included as part of the $1.76 million Reagor would forfeit.
A judge will rule at a later date on whether Reagor must pay the money. Reagor faces up to 30 years in prison and will be sentenced at a later date.
CORRECTION: The statutory maximum penalty for Reagor’s conviction is 30 years. The story has been corrected.