San Antonio–A former Texas State Senator has turned himself in at the Federal Courthouse in San Antonio on charges of money laundering.
Former State Senator Carlos Uresti was found guilty and sentenced in 2018 for his part in the Four Winds Logistics Ponzi scheme that defrauded hundreds of thousands of dollars from investors.
On February 16, 2017, FBI and IRS agents raided Uresti’s law offices in connection with the investigation into FourWinds, a fraudulent fracking business. Uresti released a statement shortly after stating that he would fully cooperate with agents during their investigation.
The government centered their investigation around Uresti’s Turning Point Strategies, a consulting firm that he owned. The FBI claimed that they were investigating “investors or contributors” in the company, which collected Uresti’s commissions for handling a former client’s $900,000 investment with FourWinds.
In June of 2018, Uresti was sentenced to twelve years in prison, to be followed by three years of supervised release. He was ordered to pay restitution to his victims in the amount of $6.3 million.
He must serve a minimum of 85% of sentence before being eligible for a release.