FBI and IRS agents raided the law offices of State Senator Carlos Uresti Thursday morning in an investigation of his involvement with a company accused of defrauding investors.
Uresti, a Democrat serving a far-ranging Senate district stretching from San Antonio to Pecos and down to the southern border, issued this prepared statement:
“TODAY FBI AGENTS ARE IN MY OFFICE, REVIEWING OUR DOCUMENTS AS PART OF THEIR BROAD INVESTIGATION OF THE FOURWINDS MATTER. I HAVE INSTRUCTED MY STAFF TO FULLY COOPERATE WITH THE FEDERAL INVESTIGATORS. I WILL HELP THEM IN WHATEVER WAY I CAN.”
FourWinds LLC is an oil company out of San Antonio that was accused of defrauding investors and declared bankruptcy in 2015. Three former FourWinds employees have already pleaded guilty to the charges, and according to an investigation by the San Antonio Express-News, the former CEO allegedly spent investor money on personal items such as exotic cars.
Uresti’s involvement with the company was extensive. He served as general counsel and recruited investors to the company. One investor that Uresti allegedly brought to the deal was Denise Cantu, whom Uresti had represented in a wrongful-death case. She lost over $800,000 in the venture and alleged in a lawsuit that her losses were “caused all or in part by Carlos Uresti.” She also told the Express-News that Uresti did not disclose his 1% ownership stake in the company to her.
Uresti has also made the news recently for failing to report almost $10,000 in campaign contributions. He was also caught on film in 2015 in compromising extramarital interactions with two young women, one a lobbyist and another a legislative staffer.