Another Democrat caught breaking the law?
Check out the story of a liberal state senator from Texas.
It’s a doozy!
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.
More from Texas Tribune:
State Sen. Carlos Uresti, accused of misleading a former client who invested in a company in which Uresti has a financial stake, was indicted Tuesday by a federal grand jury on 11 charges over his involvement in the alleged investment Ponzi scheme, and he also faces a separate indictment alleging bribery surrounding a government contract.
In the first indictment, the federal grand jury charged Uresti, a San Antonio Democrat, with eleven counts of wrongdoing over his complicated saga involving a now-bankrupt company. The company, FourWinds Logistics, purported to sell sand used in hydraulic fracturing, a process that extracts oil and gas from shale rock, but has been accused of misleading investors and grossly misspending funds. The grand jury indicted Uresti on one count of conspiracy to commit wire fraud; one count of conspiracy to commit money laundering; five substantive counts of wire fraud; two counts of securities fraud; one count of engaging in monetary transactions with property derived from specified unlawful activity; and one count of being an unregistered securities broker.
LOCK HIM UP!