WATCH: Sen. Carlos Uresti arrives at federal courthouse
Democratic senator charged with wire fraud, securities fraud, other charges
SAN ANTONIO – State Sen. Carlos Uresti of San Antonio turned himself in Wednesday to the FBI, a day after he was indicted by a federal grand jury on multiple charges.
Uresti, 53, was arraigned Wednesday in federal court. The judge set his bond at $50,000.
The Democratic senator is charged with wire fraud, securities fraud, engaging in monetary transactions with property derived from a specified unlawful activity and one count of being an unregistered securities broker.
The indictments accuse Uresti of engaging in a Ponzi investment scheme to market hydraulic fracturing sand for oil production. He's also charged with aiding a bribery scheme to secure a prison medical services contract.
Also indicted Tuesday were Four Winds CEO Stanley Bates, 45, of San Antonio, and Four Winds consultant Gary Cain, 60, of San Antonio. Bates and Cain are also expected to make appearances in federal court.
Uresti will be arraigned on May 31. The judge also said he cannot travel outside the country -- nor can the senator possess a fire arm or drink alcohol.
In a statement Tuesday to KSAT 12 News, Uresti said he's innocent of the charges:
"I am hard at work representing District 19 in the 85th legislative session. The charges against me are groundless and I look forward to proving my innocence in a court of law at the appropriate time. I will enter a plea of not guilty and immediately return to work representing District 19."
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