Prosecution Responds After Reagor’s Defense Filed Motion for Acquittal | KAMR
AMARILLO, Texas (KAMR / KCIT) – Prosecution officials respond after Bart Reagor’s defense team filed a motion earlier this month for Reagor to be acquitted or for Reagor to be tried again.
It comes after a jury found the co-founder of Reagor-Dykes Auto Group guilty of one count of making false statements to a bank and found him not guilty of two counts of bank fraud during of a weeklong trial in October. During the trial, members of the prosecution lawyer said Reagor had a “secret” plan to take $ 1,766,277.77 on a $ 10 million capital loan from the International Bank of Commerce. (IBC) and use it for personal use after officials told the bank it was intended solely for the growth of the auto group.
According to previous reports from MyHighPlains.com, defense officials have referred to the unclear definition of “working capital” throughout the trial, stressing that the evidence presented by the prosecution was not sufficient to substantiate the condemnation of Reagor.
According to court documents filed on Monday, the prosecution claims the defense failed to “accord proper deference and weight to the jury’s verdict,” stressing that the evidence presented at trial supported the jury’s final verdict beyond all else. reasonable doubt.
Throughout the 10-page report, prosecution officials refer to various pieces of evidence and parts of the trial that they believe support the ultimate conviction. This includes testimony from Steven Reinhart, the auto group’s former director of legal compliance, who said that if he had been consulted on the use of working capital, he would have discouraged Reagor from using the funds from that. way.
Prosecution officials also refer to Exhibit 41, an email with the subject line “HANDLING CAPITAL”, which was referenced several times throughout the trial. This email, sent at 8:11 p.m. on May 31, 2017 to Shane Smith, former chief financial officer of the automotive group, and co-founder of Reagor-Dykes Auto Group, Rick Dykes, described the process for using the working capital loan. .
The email reads: “The way we are going to manage this capital is 100000000% confidential between us and is NOT ANYONE ELSE’S MATTER !!!!!! ANYBODY !!!!!!!!!!!! NO BANKER OR ANYBODY ELSE! OUR BUSINESS! PLAY !!!!!!!!!!!! ! ”
The prosecution claims the email intentionally excluded anyone who would object to the use of these funds, including Reinhart and other lawyers for the auto group as well as representatives of IBC.
“Reagor did it on purpose because he knew Smith would conscientiously follow his instructions and not question the advisability of hijacking a business loan for personal use. Reagor also knew that Dykes, who could make $ 1.76 million from Reagor’s deception, would not question Reagor’s instructions. As a result, Reagor only included in his cabal those who would not challenge his underhanded instructions, ”the documents say. “… The Court must presume that the jury used this evidence to logically assume that Reagor asked Smith and Dykes to keep his plan a secret because Reagor knew his intention to use IBC’s business loan for expenses personal – on things like his mansion, investments, and payments to family members – was dishonest and wrong.
Officials also referred to “substantial evidence” of Reagor’s motive through other exhibits, including audio recordings indicating his intention to build his wealth with “other people’s money.” The prosecution claims that “Reagor’s self-image and self-esteem were inextricably linked with his personal wealth and this led him to maintain his personal wealth by any means necessary, including deception.”
Prosecution officials believe they were presented with ample evidence to support the jury’s conviction, prompting the prosecution to urge the court to dismiss the defense motion for acquittal and dismiss the request. defense for a new trial.
“The jury had convincing evidence that Reagor knew his statement was false because, before making it, he had already formed the intention to embezzle some of the proceeds, and he knew that the embezzlement was wrong because he did so. actively hid from IBC and his own legal and compliance officials, “the documents say.” … (Reagor) openly bragged about his efforts to get other people’s money to increase his own net worth. And finally, the jury was aware of Reagor’s powerful motive for wrongly taking the loan proceeds – greed without mitigation. ”
Amarillo Federal Court officials have previously said Reagor is expected to be sentenced at 1:30 p.m. on February 24, 2022 and faces up to 30 years in federal prison, according to the United States Department of Justice.
This story is developing. Check with MyHighPlains.com for updates