Ex-CEO pleads guilty in Texas case involving state senator - Newschannel 6 Now | Wichita Falls, TX

Ex-CEO pleads guilty in Texas case involving state senator

SAN ANTONIO (AP) - The former chief executive of a failed oil field services company has pleaded guilty to securities fraud and other charges in a federal case that includes a Texas state senator as a defendant.

Stan Bates, who was CEO of defunct FourWinds Logistics, entered his plea Monday in federal court in San Antonio. He's scheduled to be sentenced in April and faces decades in prison.

Bates, Democratic state Sen. Carlos Uresti and a third man were arrested in May on a variety of charges related to their work with FourWinds.

The San Antonio Express-News reports that the three are accused of defrauding investors in FourWinds, which bought and sold sand used in fracking to extract oil and gas.

Uresti has pleaded not guilty. His trial is scheduled to begin later this month.

Information from: San Antonio Express-News, http://www.mysanantonio.com

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • News HeadlinesNewsMore>>

  • 2 Americans, 2 Canadians abducted in Nigeria are freed

    2 Americans, 2 Canadians abducted in Nigeria are freed

    Saturday, January 20 2018 8:36 AM EST2018-01-20 13:36:16 GMT
    Saturday, January 20 2018 11:48 PM EST2018-01-21 04:48:28 GMT
    (Source: Raycom Media)(Source: Raycom Media)

    2 Americans, 2 Canadians abducted in Nigeria are freed and in good condition, police say.

    2 Americans, 2 Canadians abducted in Nigeria are freed and in good condition, police say.

  • Democrats, GOP try to dodge blame for shuttered government

    Democrats, GOP try to dodge blame for shuttered government

    Saturday, January 20 2018 8:06 AM EST2018-01-20 13:06:36 GMT
    Saturday, January 20 2018 11:48 PM EST2018-01-21 04:48:08 GMT
    The government shutdown has begun, and so has the finger-pointing, with President Donald Trump saying Democrats wanted to give him "a nice present" to mark the one-year anniversary of his inauguration.
    The government shutdown has begun, and so has the finger-pointing, with President Donald Trump saying Democrats wanted to give him "a nice present" to mark the one-year anniversary of his inauguration.
  • Geysers yes, Ellis Island no: Some US parks open, some not

    Geysers yes, Ellis Island no: Some US parks open, some not

    Saturday, January 20 2018 12:16 PM EST2018-01-20 17:16:44 GMT
    Saturday, January 20 2018 11:48 PM EST2018-01-21 04:48:01 GMT
    The snowy mountains and frozen lakes of Rocky Mountain National Park are still accessible to visitors, despite the federal government shutdown.
    The snowy mountains and frozen lakes of Rocky Mountain National Park are still accessible to visitors, despite the federal government shutdown.
Powered by Frankly