On Tuesday, May 4th, 3 former Reagor-Dykes Auto Group employees were sentenced for their roles in a fraud scheme that led to the eventual bankruptcy of the company in 2018.
Co-owner of the Reagor-Dykes Auto Group Bart Reagor appeared in federal court on Monday, April 26th, and pleaded not guilty to bank fraud and making false statements to a bank.
Bart Reagor, formerly of the Reagor-Dykes Auto Group, has been federally indicted on two counts of bank fraud & one count of making false statements to a bank.
Former Reagor-Dykes Accounting Associate Andrea Kate Phillips pleaded guilty on Tuesday, February 25th to her role in the fraud scheme that led the company to declare bankruptcy.
Vista Bank is defending CEO John Steinmetz after the Reagor-Dykes Chief Restructuring Officer made allegations that Steinmetz worked with now-former RDAG CFO Shane Smith on a fraud & check kiting scheme.
The Reagor-Dykes legal team claims to have evidence that proves FirstCapital Bank actively knew about their accounts being used for financial fraud and did nothing to stop it.