Banks Pleads Guilty to Fraud, Steps Down at Terroir Capital

This morning Charles Banks, founder of Terroir Capital, pled guilty to wire fraud in federal court in San Antonio. Your editor was on-site to provide the details.Charles did not file your standard plea agreement, rather he went with what's called a factual basis, meaning both he and the US government provided their side of the facts in the case that will be used to determine sentencing. The key difference between filing a factual basis versus a plea agreement is that