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Gary Cain sentenced in FourWinds Ponzi scheme

A day after former Texas Senator Carlos Uresti was sentenced to 12 years imprisonment, Gary Cain consultant for FourWinds Logistics was sentenced 5 years and 4 months in federal prison.

Cain and Uresti now wait to be called in to begin serving time for their roles in a Ponzi scheme that defrauded investors (victims) out of millions of dollars.

Cain appeared in a federal court on Wednesday, June, 27 before Senior U.S. District Judge David A. Ezra who also ordered Cain to pay $6,345,441 restitution to the victims of the scheme.

Cain will also be placed on supervised release for three years after completing his prison term.

Ezra directed Cain to turn himself in on September 25, 2018, or when notified by the United States Bureau of Prisons.

Former FourWinds Chief Executive Officer Stanley P. Bates who plead guilty to eight federal charges including securities fraud and money laundering is scheduled to be sentenced in August. Bates faces decades behind bars for his role in the Ponzi Scheme.

Uresti has vowed to challenge his sentencing.

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