Ford Wins $53M From Defunct Dealer In Financing Fraud Trial

Law360 (October 4, 2019, 8:41 PM EDT) -- A Texas federal jury on Thursday found that the co-owner of a bankrupt chain of car dealerships owes Ford’s financing arm over $53 million in damages, after the dealerships were found to have defaulted on over $113 million in loans from the auto company.  

After U.S. District Judge Sam R. Cummings in May granted Ford Motor Credit Company summary judgment and found that defendant Bart Reagor had personally guaranteed the loans taken out by a slew of dealerships he co-owned with Rick Dykes, the case headed to a jury to decide what amount of damages Reagor owed.

The Lubbock jury...

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