In a Federal Court in San Antonio this morning, Democrat State Sen. Carlos Uresti of San Antonio was found guilty on eleven felony charges involving fraud in his business dealings.
While sentencing has yet to take place, Uresti faces what could amount to decades in federal prison for his crimes.
The jury found him guilty of all eleven counts Uresti was indicted with, including several counts of both wire fraud and securities fraud, conspiracy to launder monetary instruments, and engaging in monetary transactions in property derived from specified unlawful activity.
Uresti was put on trial last year for defrauding multiple investors in a company he was deeply involved in, FourWinds Logistics. Prosecutors argued the company was nothing but a front for a Ponzi scheme. In May of 2017, his law offices were raided by the FBI. One of the witnesses testifying against Uresti was a former mistress of his who accused Uresti of both having an affair with her and defrauding her of $900,000.
Uresti will likely be forced to surrender his seat in the Texas Senate should he be incarcerated.
