Saturday night, while most in Lubbock were either watching the World Series, celebrating Halloween weekend or getting over another loss by Texas Tech Football, Bart Reagor took to the internet.

Reagor was recently found guilty by a federal jury of making a false statement to a bank. He faces a prison sentence of up to 30 years, and he's currently out on bond until his sentencing date.

Reagor posted a one-paragraph, approximately 1,000-word essay on Facebook, chronicling the downfall of the Reagor-Dykes Auto Group from his perspective. It's just the second time he has talked publicly since his conviction.

At one point in his missive, Reagor said, "My company is gone! Why is it gone? Greed yes, but not my greed."

Reagor then went on to blame the banks, Ford Motor Credit Company, and former Reagor-Dykes Auto Group CFO Shane Smith:

The several banks that we did business with around Lubbock were making millions off my company in all kinds of fees and interest. I had no idea. I was being provided false information by my CFO, who was a good friend and a hard worker. I was getting weekly bank balance reports that were not accurate. I was getting monthly financial statements that were not accurate. FMCC was doing bogus audits. My Chief Financial Officer was an FMCC exec for 11 years prior to working for me and one of his good friends Gary Byrd was the head of the Dallas region for FMCC.

At the height of the Reagor-Dykes Auto Group's business, the company had multiple dealerships in Lubbock, plus additional dealerships in Plainview, Lamesa, Floydada, Amarillo and Dallas.

You can read the complete post from Bart Reagor, below:

Bart Reagor's complete and unedited post on Facebook from October 30th, 2021:

John 8:32 "Then you will know the truth, and the truth will set you free."Like it or not I am Not the bad guy many of you that I don't know want me to be. I worked hard to build a company that provided a great place for people to get cars and to go to work. I created a place that helped people in need. A company that gave back to the community. I created and Auto Group that was recognized Nationally as one of the Top Auto Groups in America by many organizations including Ford, FMCC, General Motors, Toyota, Mitsubishi, Wards Auto Dealer Magazine, Inc Magazine, The Lubbock Chamber of Commerce, The American Diabetes Association, Texas Tech, Southcrest Christian Schools, Boys and Girls club and at least a hundred more. I have taught hundreds of people how to be successful by working hard and doing things the right way. Chances are if you go anywhere between Amarillo and Midland Odessa today you are most likely going to go to a dealership that is being managed by someone I have trained in the last 34 years. In 2003 when I resigned from Gene Messer as the General Manager of 2/4 dealerships in Lubbock I started Reagor Auto Mall. In 2004 we did $10,000,000 in sales. In 2006 Rick Dykes bought 50% of my company. I wanted to grow the company and he wanted to invest and provide the capital to grow the company. By our last full year we had over 700 employees, over 20 locations in 9 different cities and we sold 24,000 cars which was about $780,000,000 in sales. I worked hard to build that company for my family and the other families that were there. My company is gone! Why is it gone? Greed yes, but not my greed. The several banks that we did business with around Lubbock were making millions off my company in all kinds of fees and interest. I had no idea. I was being provided false information by my CFO, who was a good friend and a hard worker. I was getting weekly bank balance reports that were not accurate. I was getting monthly financial statements that were not accurate. FMCC was doing bogus audits. My Chief Financial Officer was an FMCC exec for 11 years prior to working for me and one of his good friends Gary Byrd was the head of the Dallas region for FMCC. The only time after about 2008 we ever had an audit problem was March of 2017. I was told the stores were behind getting deals processed because too many people were out for spring break, At the time we were doing $5-8 million in sales per day so it made sense. If we were doing fraudulent things why would FMCC give us a $5 million line of credit to help us out with that audit? We had to pay off $25,000,000 in cars in 7 days. We did it. That was the most I had ever been involved in the financial accounts of the RDAG dealerships since partnering with Rick Dykes in 2006. We had 5 audits after that with FMCC wit o major issues. We were good on capital based on what I knew. On 6/29/2018 I got an email after the June inventory audit that praised my team and thanked me for my business (of course Ford and FMCC were making more money than I was from my operation). On July 10th 2018 Ford and FMCC execs came to west Texas to present us with 2 President's awards. One for Spike Dykes Ford in Lamesa and one for Reagor Dykes Ford in Plainview. On 7/21/2018 it was a Saturday and I was leaving the following day for my annual vacation with my family. I was in the office and I spent about 2 hours (like I did every Saturday) going over the weekly bank balance report Shane sent to Rick Dykes and I. We had over $20,000,000 available including a $5,000,000 cushion account for Shane at IBC Bank. I went home and went on vacation Sunday with my wife and kids. Thursday of my vacation I get an email from Gary Byrd telling me they are doing an audit (which was strange because they had just done one 6/29) and that we were missing some cars. I immediately called Shane and he said have fun everything is fine, it's early we got this. So I go off with my family. When I get back and check my phone there are still issues. The next day FMCC had actually arrived with an army to take over all of our dealerships (You don't think it was an accident they arrived while I was on vacation do you?). They took all keys, titles and cash that was coming in. I arranged to get home as fast as I could. I got home at midnight 7/28 or 29 by then my company was not in my control. It was a disaster! It has been terrible! I was not involved in any way with any fraudulent activity at any time! I built that company for my family and other families long term. I loved my employees, my customers and all the people we were able to help or do business with. I never knew anything about fraud until 7/28/2018. I never knew anything about check kiting until 7/302018. There is lots more to be told and lots more to go! I have been silences for three years while all of this has been going on. The Government has gone after Shane and his team, the office managers most of which are moms and they have refused to go after and investigate fmcc who we now know knew that what they said they discovered in 6/18 is a lie because we have seen the emails in the RDAG $315 Mill lawsuit against FMCC in the bankruptcy court. FMCC execs all over the country were talking about what was going on and ignoring it... We know bankers were working directly with Shane Smith. Why have they not been indicted? Why no FMCC employees Because they decided to use me as the patsy to take the fall for everyone but I am not going to because I have a family I love, friends I love and I was not involved with the financial fraud at all. I built the company and I (my family) was defrauded more than anyone involved. Obviously you can think what you want, say what you want and do what you want but this is the TRUTH like it or not! I am not the BAD GUY some of you want me to be. It will never change! I love God, My family, my team and me last. GFTM!!!!!!!!!!! Mark 9:23- "All things are possible for those that BELIEVE" John 8:32-Then you will know the truth and the truth will set you free. RDAG also has a $50+ million lawsuit against First Capital Bank in the Bankruptcy court. It was not just Shane and his office team that created this situation... If it were then other banks and institutions would not have already paid the RDAG entities in the Bankruptcy court. As far as I am concerned I have to focus on my family and getting rid of this making a false statement conviction that is 100% not true!



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