IBC Files Garnishments in Lubbock With Four Banks Against Bart Reagor
International Bank of Commerce has filed garnishments in Lubbock with four banks against Bart Reagor.
KAMC News reports that these garnishments were requested on Friday, February 12th, 2021 and are related to a lawsuit that IBC filed against Reagor a bit after Reagor-Dykes filed for bankruptcy back in August 2018.
It's said that IBC won a judgment against Reagor for $23.8 million in April 2020. The original lawsuit was for unpaid loans.
The four banks that have been ordered to garnish Reagor's bank accounts are: Lubbock National Bank, Aim Bank, Prosperity Bank and Wells Fargo. They've been ordered to not let Reagor have any of the money from his accounts or any money owed to him by these banks.
Multiple former Reagor-Dykes employees have pleaded guilty to federal crimes related to the company's collapse. These guilty pleas include admitting to conspiracy, wire fraud and a form of bank fraud call check kiting. However, Bart Reagor himself has not been charged with anything.
Despite not being charged with any crimes, Reagor has been the subject of lawsuits and judgments over the past few years, including a court order to repay Ford Motor Credit around $49.2 million.
A writ of execution was served in an attempt to recover this money back in November of 2020. This writ would have allowed marshals to confiscate assets from Reagor, but the writ was returned to the federal judge who issued it as nulla bona.
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