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Business ProfileforReagor Dykes Auto Mall of Midland
Current Alerts For This Business
Additional business information
The following describes a pending government action that has been formally brought by a government agency but has not yet been resolved. We are providing a summary of the government's allegations, which have not yet been proven.
On June 18, 2019 Reagor Dykes Auto Group's Chief Financial Officer, Shane Andrew Smith, plead guilty to conspiracy to commit wire fraud with the Department of Justice U.S. Attorney's Office Northern District of Texas.
It is alleged Mr. Smith defrauded the Auto Group's main lender, Ford Motor Credit Company (FMCC) and concealed the fraud by cross-depositing checks across several banks known as check-kiting and instructed accountants to engage in "dummy flooring."
It is alleged accounting staff searched through vehicle identification numbers of vehicles already sold, then submitted new loan applications to FMCC using old VINS falsely indicating that the company was seeking a new loan in order to repurchase the vehicle for resale. After acquiring the new funding, instead of re-purchasing the vehicle, Reagor Dykes used the loan to cover other expenses.
The matter is pending. For more details go to https://www.justice.gov/usao-ndtx/pr/
At-a-glance
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Business Details
This is a multi-location business.
- Location of This Business
- 2200 W Wall St, Midland, TX 79701-6302
- BBB File Opened:
- 3/7/2013
- Business Started:
- 10/6/2003
- Business Started Locally:
- 10/6/2003
- Licensing Information:
- This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
- Alternate Business Name
- Reagor-Dykes Motors LP
- Business Management
- Mr. Shane Smith, CFO
- Ms. Joann Davidson, Manager
- Ms. Mistry Canady, Accounts Payable
- Contact Information
Customer Contact
- Ms. Joann Davidson, Manager
- Additional Contact Information
Fax Numbers
- (806) 872-2188Primary Fax
Phone Numbers
- (855) 818-4550Other Phone
Website Addresses
- (806) 872-2188
Customer Complaints
0 Customer Complaints
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