In fraud trial, lawyer for Carlos Uresti claims senator's ignorance of business partners' wrongdoing
SAN ANTONIO — The criminal case against Democratic state Sen. Carlos Uresti, Assistant U.S. Attorney Joe Blackwell told jurors Monday morning, was “birthed in loss” — but it ended with both “loss and profit.”
The prosecutor said the losses were suffered by Denise Cantu, whose son and daughter were killed in a 2010 car wreck that would ultimately, with Uresti’s legal representation, win her a substantial wrongful death settlement. And the profit, Blackwell said, also came at her expense, when she lost the bulk of $900,000 she invested at Uresti’s recommendation with FourWinds Logistics, a now-defunct frac-sand company where Uresti worked as general counsel and owned 1 percent of shares.
The largest question looming in the federal felony case against the San Antonio senator is whether he was aware of the Ponzi scheme that effectively robbed Cantu and a slate of other large-stake investors. Blackwell alleged in opening arguments that Uresti used his reputation and prominent position to lend credibility to the fraudulent scheme. Defense attorneys claim that Uresti didn't know about FourWinds’ shady dealings.
“There’s not a question of fraud in this case,” defense attorney Michael McCrum said. “Fraud did happen. People pled guilty to it. But the people on the outside didn’t know about it. That’s why we’re here.”
Read more: https://www.texastribune.org/2018/01/22/fraud-trial-uresti-claims-ignorance-fourwinds-wrongdoing/
