Jurors in the fraud trial of San Antonio State Senator Carlos Uresti today heard about the bizarre inner workings of Fourwinds Logistics, the company Uresti was soliciting investors for, News Radio 1200 WOAI reports.
Prominent San Antonio attorney Alfredo Cabanas testified that, at Uresti's request, he invited a Mexican millionaire to the Fourwinds corporate offices at US 281 and Loop 1604 in the summer of 2014 so the man could determine whether he wanted to make a 'million dollar plus' investiment.'
Cabanas says when he and the potential investor arrived in the reception area, they were met by 'several provocatively dressed women,' a situation he found to be 'inappropriate for an office.'
Cabanas says, doing business in the oil industry as Fourwinds Logistics was, he was more used to meeting with 'men wearing buddy boots.'
Cabanas also testified that Uresti personally delivered him spreadsheets and financial information about Fourwinds. Uresti's lawyers have claimed that Uresti was simply a 'rain man,' whose job was to use his influence and connections to find investors, and he was never privvy to the company's assets.
Cabanas says at one point, Uresti leaned across the table and whispered 'this is legit,' showing him his personal bank balance of $1.4 million.
Other witnesses have testified that Fourwinds was a 'Ponzi scheme,' and the company had essentially no assets at the time when Uresti was bragging about his net worth, and millionaire potential investors were being shown doctored spreadsheets.
Cabanas also said he 'didn't recall' Uresti revealing at the meeting that he was entitled to a commission on any investments made in Fourwinds.
One of the charges against the Senator is that he failed to disclose his fiduciary relationship with Fourwinds, which would be a violation of federal securities laws.