Former Texas State Senator, Carlos Uresti (D-TX) turned himself in at the Federal Courthouse in San Antonio, Texas this morning on money laundering charges.
Carlos Uresti was holding a bible, holding back tears and was surrounded by friends, family and lawyers as he surrendered to federal authorities. https://t.co/P1QgYvVDfH
— Spectrum News SA (@SpecNewsSA) February 20, 2019
On February 16, 2017, the FBI along with IRS agents raided Uresti’s law offices in regards to tied connections with the investigation into FourWinds, a fraudulent oil startup fracking business. FourWinds bought and sold sand used in fracking before it went bankrupt in 2015. Prosecutors say it was a Ponzi scheme that defrauded a handful of investors.
Uresti is accused of making false statements and representations to solicit investors in FourWinds and allegedly used funds from more recent investors to pay earlier investors and for personal expenses.
Uresti’s defense team emphasized that Uresti should be presumed innocent, acknowledging that jurors might carry biases against politicians. His 11 felony charges could carry decades in prison as well as millions of dollars in fines. And if convicted, Uresti would lose his long-held seat in the Texas Legislature, though he could continue to serve during the appeals process.
