Uresti barred from disposing of assets in wake of divorce petition

6
Uresti has assets frozen

State Sen. Carlos Uresti  is on the hook for up to $3 million in restitution, the federal government claims in a filing unsealed this week. Uresti was convicted last month on 11 fraud-related counts.

According to the San Antonio Express-News, “Senior U.S. District Judge David Ezra…issued an order barring Uresti, 54, and his wife, family members, representatives or companies from disposing of any of his assets without court approval. The order remains in force until Uresti’s sentencing, set for June 28.”

Prosecutors plan to seek restitution from Uresti, who owns an office building that houses his law practice valued by the Bexar County Appraisal District at $519,000. The building is also the address of two businesses registered by his wife, Margaret: Vida Sensual and Curse of Beauty.

He and his wife also own a home valued at $1.5 million in suburban Helotes. The title to Uresti’s office building is solely in his name.

The federal filing echoes a divorce petition filed by Margaret Uresti shortly after her husband’s conviction, which asked the court to prevent Uresti from selling any of the couple’s assets.

See divorce filing here.

According to the ABC affiliate in San Antonio, the filing by the feds seeking to halt Uresti from selling assets. It reads, “The Government is informed that (Uresti) is selling furniture, statues, and artwork as well as listing or preparing to list his commercial building for sale. His actions could hinder his victims’ ability to recover their losses.”

The court order also prevents the Urestis from settling their joint property in the divorce. However, the divorce will likely take some time to unwind.

Uresti’s financial disclosure for FY 2013 shows assets and business interests that appear low compared to the holdings shown in public records. In one entry, he lists a house  jointly owned by the couple as owned by himself.

The San Antonio Democrat, was indicted in 2017 in connection with his role as general counsel and minority owner at FourWinds Logistics, a now-defunct oilfields operation. He also received a piece of the investor action he recruited. Prosecutors contend that his position as a lawmaker and a well-regarded attorney lured investors into unlawful deals.

6 COMMENTS

LEAVE A REPLY

Please enter your comment!
Please enter your name here