Jury deliberates for 2nd day in Texas senator’s fraud trial

February 21, 2018

SAN ANTONIO (AP) — A jury in San Antonio is deliberating for a second day in the trial of a state senator accused of fraud for his role at a now-defunct oil field services company that federal prosecutors say was a Ponzi scheme.

The jury is deliberating Wednesday after federal prosecutors in closing arguments a day earlier said Sen. Carlos Uresti was financially strapped and worked to lure unwitting investors to FourWinds Logistics, a fracking sand company that went bankrupt in 2015.

Uresti’s attorneys said the San Antonio Democrat was careless and foolish in his business dealings but never had criminal intent to defraud.

The nearly dozen charges against Uresti include securities fraud, wire fraud and money laundering. His co-defendant, Gary Cain, faces nine felony charges and is being tried alongside the lawmaker.

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