AUSTIN (CBSDFW.COM/AP) — A state senator from San Antonio is resigning, months after being convicted on 11 federal counts of money laundering and wire and securities fraud.

Democrat Carlos Uresti was convicted in February and is awaiting sentencing of up to 20 years in prison.

READ MORE: North Texas Mother And Daughter On Mission To Help Needy Families Get School Supplies

Uresti is appealing and wasn’t up for re-election until 2020, but announced that he would quit effective Thursday.

He said in a Monday statement that “keeping in mind the best interests of my constituents and my family, I believe it to be most prudent that I step down” to focus on “ensuring that justice is done.”

Federal prosecutors say a now-defunct oil field services company — FourWinds Logistics –operated a Ponzi scheme against its investors. Uresti was its general counsel and owned a small stake of company shares that earned him commissions for recruiting investors.

MORE NEWS: 'Got Ice?' Some North Texas Companies Struggling To Keep Up With Demand During Scorching Temps

(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)