A jury has found State Sen. Carlos Uresti guilty of all charges in this high profile case that’s captured not only the attention of the audience in San Antonio but nationwide.
The verdict was read in court around 11:00 a.m. Thursday morning. Uresti was charged with 11 counts in the trial.
Uresti's former business partner and co-defendant, Gary Cain, was also found guilty of all charges.
Jurors convicted Uresti and Cain of one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. Jurors also convicted Uresti of 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.
Jurors also convicted Cain of seven counts of engaging in monetary transactions with property derived from specified unlawful activity.
Following the announcement of the verdict, Lt. Governor Dan Patrick issued a statement saying that he will relieve Uresti of his committee assignments effective immediately.
In closing arguments, the government worked to remind jurors about Denise Cantu, a woman whom Uresti once defended in a case in the Rio Grande Valley. She won a large settlement that he then persuaded her to invest in the now-defunct company FourWinds Logistics.
The government said Cantu was a shattered, vulnerable woman who trusted Uresti as a friend, lawyer, financial advisor - and later, lover. They claim Uresti exploited that relationship for his own financial gain.
They say the senator knew FourWinds CEO Stan Bates was a shady con man, yet continued to do business with him - even bringing in investors who did not know about their business and personal reputation. They claim Uresti was able to overlook Bates's crookedness, saying, "There’s millions to be made."
The defense fired back saying Uresti had no criminal intent and knowledge of the fraudulent way Bates was running the business. His attorney told the jury that they have to prove Uresti was thinking "a certain way" back then. He argued the government had no way to prove Uresti’s mindset at the time.
The jury went out for deliberations at 3:00 p.m. Tuesday afternoon and was dismissed around 5.
Uresti plans on appealing the decision.