Former Texas senator gets 12-year prison sentence for fraud
SAN ANTONIO (AP) — A federal judge has sentenced a former Texas senator who resigned last week after being convicted on fraud charges to 12 years in prison.
Democrat Carlos Uresti was also ordered Tuesday to pay $6.3 million in restitution to investors he defrauded in a Ponzi scheme. The San Antonio Express-News reported that Uresti told the court during the sentencing that he felt remorseful, disgraced and angry at himself.
The longtime San Antonio lawmaker was convicted in February on 11 counts of money laundering and wire and securities fraud. He was general counsel for FourWinds Logistics, a fracking and sand company that went bankrupt in 2015.
The 54-year-old Uresti was first elected to the Texas Legislature in 1997. He had resisted calls to resign after his conviction before stepping down last week.