Dealer Group CFO Admits to Defrauding Ford Credit of $50M


Nearly a year after Ford Motor Credit sued Reagor-Dykes Auto Group for hiding one of the largest floorplan financing frauds in history, the captive is finally receiving closure. The Texas-based dealership group’s Chief Financial Officer Shane Smith has pleaded guilty to defrauding the captive, shelling out $50 million in restitution to Ford Credit and other […]

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