Texas state Sen. Carlos Uresti was found guilty on all charges in a San Antonio federal court Thursday.
The Democratic senator’s woes began last year when he was charged for his involvement with FourWinds Logistics, a now-bankrupt oilfield services company notorious for executing a Ponzi scheme with investors.
Uresti served as general counsel for FourWinds, owned one percent of the company and — according to court documents — earned commission for recruiting investors. Uresti’s case has garnered considerable media attention over the past few months due to his public profile and alleged manipulation of mistress, Denise Cantu, who put $900,000 in FourWinds at Uresti’s behest and lost almost all of it.
It took jurors approximately 11 hours to reach the verdict over a three-day period. When receiving the news, those at the trial said Uresti remained stoic and composed. Uresti’s co-defendant, Gary Cain was also found found guilty on all 9 counts against him. Both of them will remain free on bond until sentencing on June 25.
Per the San Antonio Express, Uresti’s charges are as follows:
- 5 counts of wire fraud
- 1 count of conspiracy to commit wire fraud
- 1 count of conspiracy to launder monetary instruments
- 1 count of engaging in monetary transactions in property derived from specified unlawful activity
- 2 counts of securities fraud
- 1 count of unregistered securities broker
Each count of wire fraud and conspiracy to commit wire fraud carry up to 20 years in prison and a $250,000 fine. Conspiracy to money launder carries a maximum 10 years in prison and a $250,000 fine. Securities fraud and the count of unregistered securities broker carry 20 years and $5 million each. Finally, all of these counts are punishable with up to three years of federal supervision.
Uresti said he plans to appeal the conviction and was surprised by the outcome.
“This is a shock to all of us,” he said, according to KSAT. “This is not the verdict we were expecting. So, I’m going to meet with my family and my wife and my attorneys, and we’ll make those decisions down the road.”
Lt. Gov. Dan Patrick announced after the the conviction that he would be stripping Uresti of committee assignments so that their work could continue unimpeded, according to the Quorum Report.
Senator Uresti’s time in court is far from over. He has another upcoming trial in May for separate charges of money laundering and bribery and has also denied recent allegations of sexual misconduct.
UPDATE
At 7PM Feb. 22, The Austin American-Statesman reported the Texas Senate Democratic Caucus is calling upon Sen. Uresti to resign his position.
Good!
Good…now for the Sheriff!!
Google it….right, and we are to believe google!
He was doing business the same way 3rd World Mexico does: under the table.
Has nothing to do with party and everything to do with continuing widespread political corruption. Another example of one of south Texas finest
South Texas – WOW! That’s a mouth full. LBJ’s stomping grounds.
The story goes he was so popular even the dead voted for him because he won by registering dead people and then voted with their ID. Discovered, proved but never charged. Typical.
How u get convicted but get to still be a senator?
Good question. You can’t run for office if you’re a convicted felon BUT if you’re already in office you can serve out your term if you choose to. WTF is that all about? But the voter does have a right to a voice and that cannot be denied.
A Democrats usual business day. They really do have a hard time realizing all those laws are for them too.
So Democrats break them you say but at least they know we have them. Republicans have no idea what that word is. “Laws what r those?”
Jon Roblez, what does that mean? They’re all corrupted.
And we all know about laws and the penalties they carry. When in the public eye and more transparent, as are government jobs, those who break those laws are easy to find. Google it. You should the first to judge your own public servants and the job they do, not the last denier in the room.
Justin Delosh III
Corruption is not a partisan issue, both sides are.
Yep. Lately the Democrats rule the corruption, fraud, collusion, releasing classified documents and many other things department.
Power corrupts. Absolute power corrupts absolutely!
No no its both parties buddy so dont label all democrats as corrupt just like all republicans are not. Im a democrat and we know this guy is corrupt. Hell Trump is full of corruption and nepotism. Hell republicans were defending a child molester in Alabama for governor…
Uh no that was Hillary Clinton getting a rapist off in Arkansas and then laughing about it. Back when she was building her reputation as a woman’s rights activist.
Steve both sides have corrupt individuals if you deny that then youre naive and delusional.
Like i said republicans were just defending Roy Moore a child molester…
Dan Patrick is just as guilty of wasting tax payer money and corrupt as hell.
We provided US Attorney John Bash with enough evidence of criminal activity to put many, many moe corrupt Democrats behind bars…. We continue to ask the Police and Fire Unions for assistance…Bash has documents, recordings, emails, depositions, affidavits, courtroom transcripts, billing statements, audits, etc. proving terroristic threats against whistleblowers, fraud, mail/wire fraud, perjury, fraud upon the 57th District and Federal Courts, obstruction of justice, official oppression, Constitutional abuses, color of the law violations, falsification of government documents, retaliation, four years of illegal meetings after Whistleblowers were banned to silence them, theft of public funds , municipal bond fraud, grant fraud and other crimes committed by San Antonio City Manager Sheryl Sculley, SAPD Chief William McManus, former City Attorney Michael Bernard ( brother of Obama White House Social Secretary Jeremy Bernard) , Bexar County DA Nico LaHood, former CIO Richard Varn, former IT Director Hugh Miller, city attorney Deborah Klein, the law firm of Fitzpatrick & Kosanovich, attorney Malinda Gaul, attorney Joseph Hoelscher, attorney Edward Pina, attorney Kathleen Cassidy-Goodman, 57th District Judge Antonia Arteaga, Federal Judge Xavier Rodriguez, Mayor, Councilpersons, City Auditor Kevin Barthold , City attorney Andrew Segovia and City / County officials.
I love it!! Use it all to get em all.
He isn’t leaving congress anytime soon.
No más Uresti