The Frac Sand Industry Has A Big Problem

22 Sep 2017   Shale Oil

Dr. Kent Moors is an internationally recognized expert in oil and natural gas policy, risk management, emerging market economic development, and market risk assessment. His… But there’s a certain court case that’s becoming a really big thing… even by Texan standards. Last week in San Antonio, Texas State Senator Carlos Uresti testified in a bankruptcy hearing. The process follows from the 2015 insolvency of FourWinds Logistics. The company’s former CEO, a consultant to management, and Uresti himself have been charged in a separate criminal case alleging investor fraud. For his part, the senator has been indicted by a federal grand jury in San Antonio on no less than 11 counts, including wire fraud, money laundering, securities fraud, and engagement in monetary transactions with property from specified unlawful activity. If found guilty on all 11 counts, he could get some 200 years in prison. Unlike most of the company folks, […]

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