Two Former Employees Of A West Texas Auto Group Plead Guilty To Bank Fraud

Kelli Wiese
September 20, 2019 - 2:49 pm
Court

Getty Images

Categories: 

U.S. Attorneys say Sheila Miller and Diana Urias with the Reagor Dykes Auto Group made the plea in Amarillo for their role in a$23 million check fraud scheme. 

Their chief financial officer, Shane Smith, already pleaded guilty to conspiracy to commit wire fraud and a related floor plan fraud scheme. 

Miller and Urias admitted that the auto group - which was struggling with ballooning expenses due to aggressive growth, above market compensation and unnecessary overhead - engaged in widespread, systematic check kiting.

Both Miller and Urias said the company had an entire team designated to kite checks.

Both women face up to five years in prison and may have to pay at least $23 million in restitution. Mr. Smith faces up to 20 years in prison and more than $50 million in restitution.