San Antonio Express-News (Sunday)
Uresti wants to sell office building
Convicted state Sen. Carlos Uresti and federal prosecutors are asking for court permission to allow him to sell the San Antonio office building where he practiced law before surrendering his law license two months ago.
Uresti, who was convicted of 11 felony charges in February, has been offered just shy of $1 million for the building at 924 McCullough Ave. But he’s barred from disposing of any assets without court approval.
The San Antonio Democrat and the U.S. attorney’s office want Senior U.S. District Judge David Ezra to partially lift a restraining order so the building can be sold, according to a newly filed court document.
The Thursday court filing by Uresti, 54, and the government says that after satisfying the mortgage, taxes and other costs with proceeds from the building sale, about $538,000 will be left to pay restitution to his victims.
A jury found Uresti guilty of securities fraud, conspiracy to commit wire fraud and money laundering, among other charges, in connection with his involvement in FourWinds Logistics, an oil field company that defrauded investors.
Uresti was the company’s outside legal counsel and a 1 percent owner and recruited potential investors to enter into joint ventures with FourWinds. Uresti, though, left out
pertinent details to get them to invest, including that he stood to get a slice of their profits.
Uresti is scheduled to be sentenced on June 26. He’s facing a prison sentence that could range from eight to 12 years, some lawyers have said. He also will owe more than $3 million in restitution to his victims, according to federal prosecutors.
The lawmaker, who has resisted calls to step down from office, has vowed to appeal his conviction. He is free on an unsecured bond pending sentencing.
Less than two months after his conviction, Uresti surrendered his license to practice law in lieu of facing disciplinary action from the State Bar of Texas. He had been a practicing attorney for more than 25 years.
Uresti’s wife of about six years, Lleanna, filed for divorce a week after the jury’s verdict.
Not long after, the government requested a restraining order to prevent Uresti and others close to him from disposing of assets that could be used to pay his victims.
“Divorce is a common asset-protection device in cases where restitution is anticipated, and defendants will routinely agree to a final decree in which the nondebtor spouse receives all of the assets while the defendant receives all of the debt,” the government said in its request for the restraining order. Ezra subsequently granted the motion.
Little has happened in the divorce case since the petition was filed. State District Judge Stefani Walsh granted Uresti’s request last month to seal the court records.
The Thursday court filing by Uresti and the government indicates that he initially received a $1 million offer from Hema Viswanathan for the building, furniture and equipment on May 25. The offer was later reduced to about $978,000. Viswanathan couldn’t be reached for comment Saturday.
The building is assessed at about $540,000 by the Bexar Appraisal District. Uresti bought the building in 2007. Federal agents raided the building last year as part of their investigation that later led to Uresti’s indictment.
Uresti is scheduled to stand trial in October in a separate case where he’s accused of splitting $850,000 in bribe payments with a county judge in Reeves County over a medical services contract at a jail in West Texas. Uresti has denied the charges.
He initially received a $1 million offer from Hema Viswanathan for the building, furniture and equipment. The offer was later reduced to about $978,000.