Tony Sanchez

Antonio R. Sanchez, Jr., known as Tony Sanchez (born 1943), is a Mexican American businessman, philanthropist, and Democratic politician, who in 2002 ran an unsuccessful campaign against incumbent Republican Rick Perry for the position of Governor of Texas. He is also known for his successful oil, natural gas, and banking operations, which are based in Laredo, the seat of Webb County in south Texas.

Education

Sanchez holds degrees in business administration and law from St. Mary's University in San Antonio.

Early career and scandals

Sanchez was CEO of Tesoro Savings and Loan during the 1980s. He famously admitted to $25 million of Mexican Mafia money being laundered under his watch. Sanchez was found not guilty of any wrongdoing, but his bank did eventually fail in 1988, at a federal cost of $161 million.

Sanchez briefly worked as Texas Parks and Wildlife commissioner, and after his time there, that agency granted him a controversial permit in 1993 to drill gas wells in Falcon State Park. Putting a positive spin on the permit, Sanchez said, “There would be no greater joy than to see a beautiful park that our children and adults can go to and learn about the oil and gas industry.”

2002 gubernatorial campaign

In March 2002 Sanchez defeated former state Attorney General Dan Morales for the Democratic nomination for state governor. Later, Morales endorsed Sanchez's Republican opponent, Rick Perry. Morales' brother was imprisoned for having attempted to blackmail Sanchez in the primary campaign. Morales himself went to prison for wrongdoing in connection with the state tobacco settlement.

During Sanchez's campaign to unseat Perry, the heated topic was homeowner's insurance reform. Questiona arose over a multimillion dollar settlement against Farmer's Insurance regarding mold coverage and the role played by former state legislator Joe Nixon).

In several Texas cities, both Sanchez and the Democratic nominee for United States Senate, former Dallas Mayor Ron Kirk, an African American, shared campaign space.

Current status

Sanchez also has been a major investor in Blockbuster, Viacom, and other high-tech ventures. His wealth has been estimated in excess of $600 million.

Sanchez has also contributed to then Governor and later U.S. President George W. Bush. After Enron, Sanchez was the largest donor to Bush, having given an estimated half a million dollars, according to the Center for Public Integrity.

Sanchez has served as aide to former Lieutenant Governor Ben Barnes. Today, he is chairman and CEO of Sanchez Oil & Gas Corporation, a privately held company he built with his father, Antonio Sanchez, Sr. He and his family are also majority owners of International Bancshares Corporation, a multi-billion dollar bank holding company.

Right after the March 7, 2006, primary, Sanchez announced his support of independent gubernatorial candidate Carol Keeton Strayhorn, who fared poorly in Webb County voting, in her general election campaign against Perry.

On December 13, 2007, Texas A&M International University in Laredo announced that the A.R. "Tony" and Maria J. "Tani" Sanchez Family Foundation is donating donating $10 million to create an endowment in the College of Business. The foundation already underwrites several undertakings at TAMIU, including its Distinguished Speakers program. Sanchez has also given generously to the establishment of the cancer treatment center of the Laredo Medical Center.