Slayer of the DP Newsbot
- Aug 27, 2005
- Reaction score
- Houston, TX
- Political Leaning
Texas Attorney General Ken Paxton has been charged in federal court with allegedly misleading investors in a technology company.
The U.S. Securities and Exchange Commission filed the charges Monday in a Sherman-based court. They are similar to the allegations Paxton faces in a pending indictment handed up by a Collin County grand jury last year.
This charge does not add to the 3 felony indictments Paxton is already facing at the state level, but adds a Federal civil action to Paxton's headaches. Paxton is claiming he is innocent, but the following is very damning because he actually admits he did the same crime on another occasion:
In May 2014, the state securities board fined Paxton for similar conduct. At that time, Paxton, who was then running for attorney general, admitted he solicited clients for an investment firm without disclosing that he would be paid a percentage of the fees the firm collected from their business.
To make this short, Paxton is screwed, any way you look at it. Doubtful he will get any prison time, though. The Federal charge is a civil action, and Republicans in Texas know how to take care of their own. If it were you or me, we would be looking at hard time, but Paxton will get a break because of his connections and money.
Article is here.
Another article is here.