Texas Ethics Commission fines state Sen. Uresti $500 after guilty verdict in Ponzi scheme

Uresti to be sentenced in June

SAN ANTONIO – The Texas Ethics Commission fined state Sen. Carlos Uresti $500 after he was found guilty in a Ponzi scheme.

The Texas Tribune reports that the commission fined Uresti for failing to properly disclose on his personal financial statement income related to Four Winds Logistics, the company he and Gary Cain used as a front to dupe investors.

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Uresti has said he has no plans to step down from his state Senate seat while he appeals the verdict, despite calls for his resignation.

Uresti faces sentencing in June.