A state senator from Texas could face multiple years in prison after a jury found him guilty of numerous felonies, including money laundering and fraud.
Here’s the scoop…
From Daily Wire:
On Thursday afternoon, a Democratic Texas state senator was found guilty on 11 felony charges, including “multiple counts of fraud and money laundering,” reports the Texas Tribune.
State Sen. Carlos Uresti was charged last year for his role in what authorities called a “Ponzi Scheme” involving a bankrupt oilfield services company called FourWinds Logistics. Uresti, the Texas Tribune says, “used his prestigious reputation to lend credibility to an unknown company; several investors testified that Uresti’s presence reassured them that their money would be safe with FourWinds.”
Texas Tribune has more:
“The Texas Senate Democratic Caucus is calling upon Sen. Uresti to resign his position,” said Sen. José Rodriguez, a Democrat from El Paso who chairs the caucus.
And Lt. Gov. Dan Patrick, the Republican who presides over the Senate, said he would strip Uresti of his committee assignments.
Uresti was charged last year in connection with FourWinds Logistics, a now-bankrupt oilfield services company that perpetrated a Ponzi scheme against its investors. Uresti served as general counsel for FourWinds and owned 1 percent of the company. He also earned commission for recruiting investors, according to court documents.
Lock him up?
We’ll have to await the judge’s final decision.