Texas
Texas woman and dog killed in Arlington collision on Cooper Street
ARLINGTON, Texas – Arlington police are continuing to investigate a fatal crash that killed a 43-year-old woman on Friday afternoon, saying speed was a factor and that investigators are working to determine whether street racing was involved.
Surveillance video shows speeding before crash
What we know:
Tanya Cypert was less than a mile from her Arlington home when the collision occurred at the intersection of Cooper Street and Eden Road, authorities said. Cypert had been on her way to get something to eat before her shift at Great Wolf Lodge in Grapevine.
Police said surveillance video from a nearby business shows two vehicles speeding northbound on Cooper Street moments before the crash.
The footage shows a black sedan moving in and out of frame, followed by a second black sedan, identified by police as a 2025 Mercedes, weaving between other vehicles.
Another camera angle shows Cypert’s white Hyundai Tucson slowing to make a left turn onto Eden Road as the first black sedan passes through the intersection. Seconds later, the Mercedes enters the intersection and collides with Cypert’s vehicle.
The impact produced a cloud of smoke and caused an engine to detach and land on the road.
Arlington police investigate potential street racing
Dig deeper:
The 18-year-old driver of the Mercedes was injured and remains hospitalized with broken bones, police said. Investigators have not yet interviewed him.
Cypert was transported to a hospital, where she later died. Her French bulldog, which was in the vehicle with her, was also killed.
Victim’s family on the tragedy
What they’re saying:
Cypert’s sons, Chancellor and Ethan, said they returned to the crash site Monday to honor their mother’s memory.
“It was a regular day for her, and now it’s going to be memorialized as the worst day of our lives,” said Chancellor Cypert.
Chancellor said the family is seeking justice but not revenge.
“As much as we want justice and stuff, it’s not about seeking revenge. It’s about trying to honor her memory and how many people she loved,” he said. “She loved everybody.”
Ethan said the damage to the front of the vehicle was “crazy and mind-blowing,” adding, “There is no need for that amount of speed at all.”
A family friend, Karen Arce, described Cypert as selfless and supportive.
“The sun just shines a little less bright every day,” Arce said.
The family also said an off-duty Midlothian police officer witnessed the crash and was the first to exit his vehicle to try to help. They expressed gratitude for his efforts.
Charges pending in fatal Arlington collision
What’s next:
No arrests have been made, and no charges have been filed. Police said they are continuing to interview multiple witnesses and review surveillance video as the investigation remains active.
The Source: Information in this article was provided by FOX 4’s Peyton Yager.
Texas
Phoenix Merchant Partners and Texas Capital Alternative Asset Management Form Strategic Relationship
Phoenix Merchant Partners, an independent alternative asset manager, and Texas Capital Alternative Asset Management (TCAAM), a wholly owned subsidiary of Texas Capital Bancshares, formed a strategic relationship to provide customized capital solutions and direct lending to the core middle market across a diverse range of industries.
The relationship integrates the corporate and investment banking coverage network of Texas Capital with the structuring, underwriting and multi-cycle portfolio management expertise of Phoenix. Capitalizing on this powerful combination, Phoenix will launch its first vehicle, Spurstone Credit, in Q3/26. Structured as a perpetual-life, non-traded closed-end credit fund, Spurstone will be headquartered in Dallas, Texas.
Spurstone has already attracted interest from a group of anchor institutional investors. The vehicle’s investment mandate will focus primarily on delivering senior secured financing solutions to core middle-market businesses with annual revenues between $100 million and $1 billion that are currently underserved in private credit.
“As the only full-service financial services firm headquartered in Texas, we continuously look for ways to serve the needs of companies and their owners, both in Texas and in our industries of focus across the country. Working with Phoenix expands and accelerates our ability to offer proprietary private credit financing solutions to deserving clients. The Phoenix team shares our disciplined approach to asset structuring, capital preservation and portfolio management, as well as our passion for providing exceptional client service and delivering comprehensive solutions,” Daniel Hoverman, head of corporate and investment banking at Texas Capital and president of TCAAM, said.
The vehicle’s strategy is designed to address a critical structural liquidity gap for non-sponsored, family-owned and founder-led mid-market enterprises requiring flexible, non-dilutive senior capital to fund organic growth, strategic acquisitions and balance sheet optimizations.
“Proprietary origination remains the single biggest differentiator in the private credit landscape,” Art Mbanefo, founder and CEO of Phoenix, said. “Working with TCAAM unlocks unparalleled access to high-quality, founder-owned businesses across Texas and other economic centers like California, New York and Illinois. Together, we are bridging the liquidity gap for exceptional middle-market companies.”
Spurstone will be advised by a newly formed, Phoenix-sponsored registered investment adviser, Ryestone Advisors, which is currently applying for registration with the U.S. Securities and Exchange Commission. TCAAM will be a minority economic investor in Spurstone’s investment adviser.
Texas
Texas man admits embezzling $3.2 million to pay student loans, fuel online gambling, prosecutors say
A Texas man who siphoned off millions from his employer to wipe out tens of thousands in student loan debt and bankroll extensive online gambling has pleaded guilty to federal embezzlement charges, prosecutors said.
Mitchell David Slentz, 34, of Kyle, pleaded guilty in federal court to embezzling more than $3.2 million from Austin Freight Systems, according to the U.S. Attorney’s Office for the Western District of Texas.
Financial oversight role detailed
Prosecutors said Slentz held broad responsibility for Austin Freight Systems’ finances, managing accounting operations, overseeing financial reports and internal controls, and handling vendor payment requests submitted to JPMorgan Chase.
Between October 2023 and March 2025, Slentz executed 147 fraudulent payments, diverting $3,277,937.35 into his personal accounts via interstate wire transfers. He used part of the stolen money to make two student loan payments — $25,000 and $33,887. He also gambled heavily on an online platform, depositing and winning more than $1 million, the U.S. Attorney’s Office said.
Charges and court proceedings
Slentz was charged on May 14, appeared on June 8, and pleaded guilty Monday to wire fraud and engaging in monetary transactions with criminally derived proceeds.
A federal judge will determine Slentz’s sentence based on U.S. Sentencing Guidelines and statutory factors.
Investigation led by the FBI task force
The FBI Austin White Collar Crime Task Force handled the investigation.
CBS News Texas will provide updates as more information becomes available.
Texas
Hot, muggy and breezy conditions continue for North Texas ahead of Fourth of July
Tuesday morning is off to another warm start, with temperatures in the 70s. Expect another day with breezy winds, hot temperatures and Saharan dust in the sky. Most of the dust will move out of North Texas by Wednesday.
Temperatures on Tuesday afternoon will feel like triple digits, and this trend will continue into the Fourth of July weekend. Because dew points will drop slightly toward the end of the workweek, high temperatures should finally reach the 100° mark by Saturday.
There’s just a slim 10% chance of showers in the forecast for Friday and Saturday, with slightly better rain chances on Sunday and Monday at 20%. Until then, temperatures will continue to heat up, and the feel-like temperatures will be at 100°+ each day. Stay cool.
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