Texas Democrat Convicted Of Fraud And Conspiracy To Commit Money Laundering

A Democrat state senator from Texas named Carlos Uresti is in deep trouble. He has been convicted of multiple crimes and has even had to surrender his law license.

The Associated Press reports:

Convicted Texas senator surrenders law license

A state senator from San Antonio who was convicted on 11 federal counts of money laundering and wire and securities fraud has surrendered his license to practice law.

The San Antonio Express-News reports that state Sen. Carlos Uresti would have been disbarred after his June sentencing anyway, but chose to voluntarily submit his resignation March 23. His resignation was accepted by the State Bar of Texas’ Office of the Chief Disciplinary Counsel the same day, then by the Texas Supreme Court on Tuesday.

The San Antonio Express News has more:

The San Antonio Democrat was found guilty Feb. 22 of securities fraud, conspiracy to commit wire fraud and money laundering, among other charges, over his involvement in FourWinds Logistics. Uresti has vowed to appeal. His recent motion for a new trial was denied.

FourWinds bought and sold sand used for fracking in oil production before going bankrupt in 2015 amid allegations it had defrauded investors.

Uresti served as FourWinds’ outside legal counsel, held a 1 percent ownership interest, and recruited potential investors to enter into joint ventures with the company. Uresti, though, left out pertinent details to get them to invest, including that he stood to get a slice of their profits.

Do you think CNN or MSNBC will report anything about this case? Not likely.

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