Shane Smith, the former Chief Financial Officer of the Reagor-Dykes Auto Group, is now accused of taking over $525,000 dollars he was not entitled to have.
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.
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.
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.