A federal grand jury has indicted Sen. Carlos Uresti (D-San Antonio) in connection with Four Winds, a bankrupt frac-sand firm, and a business seeking a contract with a correctional facility in his district.
Uresti was charged with five counts of wire fraud, two counts of securities fraud, one count of engaging in monetary transactions with property derived from unlawful activity and one count of being an unregistered securities broker. Along with two executives of the bankrupt Four Winds company, he was also charged with one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering.
The indictment alleges that Uresti and the Four Winds defendants “developed an investment Ponzi scheme … [and] made false statements and representations to solicit investors in Four Winds.”
The grand jury also charged Uresti, along with a Lubbock man, with one count of conspiracy to commit bribery and one count of conspiracy to commit money laundering in connection with an unrelated medical services contract. That indictment alleges “the defendants conspired with others to pay and accept bribes in order to secure a Reeves County Correctional Center medical services contract” from the co-defendant’s company.
Each charge carries a potential federal prison sentence of 5-20 years. Uresti and the Four Winds defendants are expected to appear before U.S. Magistrate Judge Henry Bemporad in San Antonio tomorrow (Wednesday).
“The charges against me are groundless,” Uresti said in a statement. “I look forward to proving my innocence in a court of law at the appropriate time.”
Uresti is not up for re-election until 2020.
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