Now that both former State Senator Carlos Uresti and his co-conspirators in a massive fraud scheme have been sentenced, a civil suit brought by their victims has kicking into high gear, Newsradio 1200 WOAI reports.
"We're also suing a couple of banks that we feel facilitated this conspiracy," defense attorney Oscar Alvarez says.
Uresti, along with Stan Bates, were indicted and found guilty in a massive pyramid scheme that involved a defunct fracking company called FourWinds Logistics. They would pay investors with other investor's cash while, at the same time, the company was bleeding money.
One of the victims is Denise Cantu, who is represented by Alvarez. She lost nearly $1 million in the scam.
Alvarez says, while Uresti and Bates are to blame, so us Chase Bank.
"Bates took Denise into one of the branches. The bank employees made this presentation that convinced her to invest this money."
They're also suing Lone Star National Bank in McAllen. There are allegations that the bank told Uresti about Cantu's bank balances so that he could take her for everything she had.
Cantu was at this week's sentencing of Bates, who received a 15 year sentence for fraud and money laundering. She says she was manipulated by Uresti.
"He knew exactly how much money I had gotten from my children's death and he took full advantage of that."
Uresti represented Cantu at trial for a car wreck that claimed the life of two of her kids.
Other investors lost more. Richard and Sharlene Thum, who run Five Star Cleaners, lost $1.4 million. They were also in court for Bates sentencing but declined to comment to 1200 WOAI news.
A jury trial is set for March 18th