AMARILLO, Texas (KAMR/KCIT) — Shane Smith, the former chief financial officer of the Reagor-Dykes Auto Group and what officials have called the organizer of the check-kiting and floor plan fraud schemes that led to multiple employees being sentenced to prison, is expected to be sentenced at 1:30 p.m. Thursday in Amarillo Federal Court.
According to previous reports by MyHighPlains.com, Smith pled guilty to one charge of conspiracy to commit wire fraud in June 2019. The auto group fell into bankruptcy after Ford Motor Credit filed a lawsuit against the auto group in July 2018 with accusations of floor plan fraud and various banks also accused the auto group of check-kiting practices.
Smith joins a number of other former Reagor-Dykes Auto Group employees who were also charged with their respective involvement in the auto group’s scheme. The following individuals were also charged in Amarillo Federal Court:
- Steven Reinhart – the auto group’s legal compliance director, sentenced to six months for one count of misprision of a felony;
- Paige Johnston – office manager for the auto group’s Floydada store, sentenced to 27 months for one count of conspiracy to commit wire fraud;
- Sherri Wood – office manager for the Reagor-Dykes Auto Company LP (the Ford store in Plainview), sentenced to 30 months for one count of conspiracy to commit wire fraud;
- Pepper Rickman – office manager for the the auto group’s Lamesa store, then promoted to accounting controller at the Reagor-Dykes Plainview LP (the Toyota store in Plainview), sentenced to 48 months for one count of conspiracy to commit wire fraud;
- Brad Fansler – the auto group’s group adminsitrative director, sentenced to 42 months for one count of conspiricy to commit wire fraud;
- Whitney Maldonado – office manager of Reagor-Dykes Imports LP (the Mitsubishi store in Lubbock), sentenced to 27 months for one count of conspiracy to commit wire fraud;
- Elaina Cabral – finance assistant for the Reagor-Dykes Auto Company LP (the Ford store in Plainview), promoted to office manager of the Reagor-Dykes Plainview LP (the Toyota store in Plainview), sentenced to 27 months for one count of conspiracy to commit wire fraud;
- Mistry Canady – office manager for Reagor-Dykes Motors LP (Spike Dykes Ford in Lamesa), sentenced to 24 months for one count of conspiracy to commit wire fraud;
- Andrea Phillips – office manager of RDAG’s subsidiary, Reagor-Dykes Auto Company LP (the Ford store in Plainview, then transferred to the auto group’s corporate office as an accounting associate, sentenced to one year probation for one count of misprision of a felony;
- Wesley Neel – the auto group’s safety and compliance manager, supervised the inventory managers at several stores and assisted office managers with Ford Motor Credit Company floor plan audits, sentenced to 30 months for one count of conspiracy to commit wire fraud;
- Diana Urias – office manager for the Reagor Auto Mall Ltd. and the auto mall’s Levelland store, sentenced to 24 months for one count of conspiracy to commit bank fraud;
- Sheila Miller – group controller for the Reagor Dykes Auto Group, sentenced to 27 months for one count of conspiracy to commit bank fraud;
- Lindsay Williams – group accounting manager for the auto group, sentenced to 27 months for one count of conspiracy to commit bank fraud;
- Ashley Dunn – executive assistant to the chief financial officer, sentenced to 30 months for one count of conspiracy to commit bank fraud.
The former employees who were sentenced, as well as Smith, are grouped into two groups of restitution in relation to their respective involvement in the scheme. This includes more than $40 million to Ford Motor Credit Company and more than $19 million to FirstBank and Trust, the International Bank of Commerce and Vista Bank. The restitution is to be jointly split among the individuals.
Restitution No. One – $40,254,297.72 to Ford Motor Credit Company
- Smith
- Johnston
- Wood
- Rickman
- Fansler
- Maldonado
- Cabral
- Canady
- Phillips
- Reinhart
- Neel.
Restitution No. Two – $19,335,901.10 to FirstBank and Trust, International Bank of Commerce and Vista Bank
- Smith
- Miller
- Urias
- Williams
- Dunn.
The auto group’s co-founder Bart Reagor will also face sentencing in Amarillo Federal Court for a separate charge later this year. According to previous reports, Reagor’s sentencing is scheduled for 10 a.m. March 10, in Amarillo Federal Court after a jury convicted him of making false statements to a bank, as well as finding him not guilty for two counts of bank fraud. Reagor was convicted of intentionally using $1,766,277.77 out of a $10 million capital loan from the International Bank of Commerce for personal gain after officials told the bank that it was solely to be used for the growth of the auto group.
This story is developing. Check with MyHighPlains.com for updates
