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Bates Seeks to Appeal His Sentence for Ponzi Scheme

Stan Bates, imprisoned for masterminding a Ponzi scheme that also took down former state Sen. Carlos Uresti, wants the U.S. Supreme Court to review his 15-year prison sentence, according to the San Antonio Express News.

Bates, who was the CEO of San Antonio oil field services company FourWinds Logistics, has asked the nation’s high court to grant a writ of certiorari to review his case.

Bates appeal comes more than five months after the 5th U.S. Circuit Court of Appeals upheld his sentence.

In appealing the sentence, Bates has argued that his prison term was stiffer than warranted and should have been in the range of about 10 years to 12 years and seven months.

In 2018, Bates pleaded guilty to eight felonies, including securities fraud and money laundering, rather than stand trial with Uresti and businessman Gary Cain.

A jury convicted both Uresti and Cain of defrauding investors. Uresti was sentenced to 12 years and Cain was sentenced to five years and eight months.