AMARILLO, Texas (KAMR/KCIT) — After a again-and-forth involving the protection and prosecution in the case of Bart Reagor pertaining to no matter whether he must be acquitted following his October conviction, U.S. District Choose Matthew  J. Kacsmaryk – who oversaw the circumstance – resolved to permit the original ruling stand.

The defense’s motion for Reagor’s acquittal, or for Reagor to acquire a new trial, arrived in mid-December soon after a jury convicted the Reagor-Dykes Car Team co-founder of creating bogus statements to a financial institution, as properly as discovering him not responsible for two counts of financial institution fraud. Reagor was convicted of intentionally employing $1,766,277.77 out of a $10 million capital personal loan from the Global Bank of Commerce (IBC) for individual acquire soon after officials instructed the lender that it was solely to be employed for the growth of the automobile team.

In the defense’s initial movement, officials argued the definition of “working capital” was unclear by means of the trial, stating that Reagor had the belief that he could use all those financial loan cash to present operator distributions as “working cash.” The prosecution’s reaction referenced certain e-mails to automobile group management, outlining the prepared use of the “working capital” financial loan funds, aspects not disclosed to officials from the auto group’s authorized office or IBC representatives.

In accordance to courtroom files, a defendant is permitted to problem the “sufficiency of the evidence to sustain a conviction.” By means of this procedure, the Courtroom has the capacity to uncover irrespective of whether a “rational jury could have identified the necessary things of the offense billed past a realistic doubt” with the evidence introduced throughout the demo.

Kacsmaryk stated there was proof for a rational jury to uncover that the prosecution “met its burden of proving the factors of fake assertion to a financial institution past realistic doubt.” In the files, Kacsmaryk referenced several items of evidence introduced through the trial, like the electronic mail Reagor sent to Shane Smith, the car group’s former chief economic officer, and Reagor-Dykes Auto Group co-founder Rick Dykes, outlining the approach of the use of the doing the job money loan, as very well as audio recordings of Reagor detailing how he utilised “other people’s money” to enhance his possess web worth.

“The court docket concludes that enough evidence existed for a rational jury to figure out that: (1) Defendant built a wrong statement to IBC, as billed (2) Defendant understood the statement was bogus when Defendant built the statement (3) Defendant did so for the intent of influencing a lending motion of IBC, convincing IBC to give Defendant a financial loan for doing work funds and (4) IBC was federally insured,” the documents read.

Kacsmaryk also denied the more motion from Reagor’s protection group for a new trial. Reagor’s sentencing is scheduled for 10 a.m. March 10, in Amarillo Federal Court.