A high-profile former employee of the Reagor-Dykes Auto Group is scheduled to be sentenced Tuesday, Jan. 7, at a federal court in Amarillo.

In 2019, Shane Smith pleaded guilty to one count of wire fraud in connection with a check kiting and floor-plan fraud scheme.

The scheme defrauded Ford Motor Credit out of millions of dollars, plus a number of banks in which the Reagor-Dykes Auto Group conducted business with.

After discovering evidence of financial fraud in July of 2018, Ford Motor Credit sued the Reagor-Dykes Auto Group and the company has been in the bankruptcy process ever since.

Smith is the former CFO of the Reagor-Dykes Auto Group and at least eight other co-workers have pleaded guilty to federal fraud charges as well.

Smith faces up to 20 years in prison and has already been ordered to pay restitution of more than $50 million dollars thanks to a plea deal Smith agreed to in June of last year.

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