Garrett Johnson, 41, the former operator of Marina DelReyonLakeTexoma,was indicted by a federal grand jury on five counts of bank fraud and one count of wire fraud in an alleged scheme prosecutors say involved more than $40 million in loansandresultedinapproximately $20 million in losses to financial institutions.
The indictment marks a dramatic turn for Johnson, who took over operations at Marina Del Rey in 2016 and became a prominent figure in the Caney-Soldier Creek community. According to the allegations reported in the indictment, between 2018 and2024Johnsonrepeatedly provided lenders with false or misleadinginformationwhile obtaining millions of dollars infinancingthroughmultiple companies.
Prosecutorsallegethatthe lending activity ultimately caused financial institutions to suffer losses totaling about $20 million. One portion of the alleged scheme directly involves Marina Del Rey.
Court records cited in the indictment stated that more than $9 million in borrowed funds was intended for restoration and improvements to boat slips and docks at the Lake Texoma marina. Prosecutors allege that approximately $3 million of that money instead was used to purchase oil and gas interests. The allegations come afteryearsofcomplaintsfrom some marina residents and tenants about the condition of the property, particularly damaged docks, boat slips and other facilities.
Johnson's history with Marina Del Rey dates back a decade. The marina's own website previously identified Johnson as its owner and stated that he had owned the marina since 2016.
Johnson said he had been visiting the Lake Texoma area since he was 5 years old anddescribedthemarinaand surrounding Caney-Soldier Creek community as being personally important to him. During his ownership, Johnson also acquired lakefront properties in the Caney-Soldier Creek area and additional acreage near the marina, according to a statement previously published on the marina's website.
The marina, however, became the subject of increasing criticism in recent years as residents complained about deteriorating docks, damaged facilities and declining activity. In 2024, residents organized a petition seeking improvementsatthemarina.
Complaints included sinking docks, unsafe boardwalks and problems with utilities. More than 340 signatures were reportedly collected, with residents asking that the docks be brought into compliance with standards required by the U.S. Army Corps of Engineers.
Johnson previously attributed much of the deterioration to storm damage and an ongoing insurance dispute. In a statement reported by KXII, he said significant storm damage had affected the marina and that he had hired a public appraiser to assist with the insurance claim. He said more than $1 million had already been spent on efforts to mitigate the damage.
The marina's financial problems also surfaced in bankruptcy proceedings. In 2025, a bankruptcy case involving Johnson was dismissed after an insurance company challenged his bankruptcy claim.
At the time, KXII reported that tenants remained frustrated with the condition of the property. Public court records also show Johnson and Marina Del Rey entities were involved in earlier civil litigation involving financing and equipment.
AnOklahomaCountycase filed in 2020 named Johnson, Marina Del Rey LLC, MDR Boat Rentals LLC and other related companies as defendants inanindebtednesscase brought by Arvest Equipment Finance. That case was ultimatelydismissedwithout prejudice in 2022.
For residents who remember Marina Del Rey as a busy destination on Lake Texoma, the federal indictment has added another chapter to the marina's troubled recent history. Paul Shepherd, a marina resident quoted by KXII, said the property had once been a lively and viable destination where familiesbuilt memories. He described the decline as frustrating and tragic and said residents now want to see the marina move forward.
The federal charges carry substantial potential penalties. Each bank-fraud count carries a maximum sentence of up to 30 years in federal prison, while the wire-fraud count carries a maximum of up to 20 years, if convicted. It is important to note that an indictment is an allegation, not a conviction. Johnson is presumed innocent unless and until proven guilty in federal court.
Thecasenowplacesthefuture of one of Lake Texoma's longtime marina properties under an even brighter spotlight, while residents and property owners in the Caney-Soldier Creek area await the next steps in both the federal criminal case and the continuing issues surroundingMarinaDelRey.