Sunday, August 2, 2015

The Adventures Of K-PAX

At the beginning of last month I mentioned that Texas Republican AG Ken Paxton was facing possible securities fraud indictment over abusing the power of his office.  Turns out that those grand jury charges are officially being unsealed against Paxton on Monday, according to Dallas TV station WFAA.

A grand jury has indicted Texas Attorney General Ken Paxton on multiple felony charges, according to several sources who are familiar with the complaints.

The charges will be unsealed in McKinney on Monday about noon, and a Tarrant County judge has already been appointed to preside over the case, sources told News 8.

After the indictments are unsealed, Paxton can surrender to be photographed, fingerprinted and booked at any of the state's 254 county jails.

It's unclear exactly what Paxton will be indicted for, although a grand jury here has heard evidence that Paxton, 52, violated securities laws.

Special prosecutors in the Paxton case told News 8 they planned to present a third-degree charge of failing to register with the state securities board, as the law requires. They also said they planned to present a first degree felony charge against Paxton accusing him of securities fraud. All indications are that charge is related to Servergy, a McKinney-based company that has been under investigation by the Securities and Exchange Commission.

Paxton does not have to resign or step down from statewide office as he prepares to face a criminal trial. He can continue to work, just as Gov. Rick Perry did after his two felony indictments in August 2014.

Paxton's case, legal experts predict, will go to trial since his law license and statewide office are now on the line.
The charges are pretty serious, expected to include at least three felony counts.  Paxton has already paid a $1,000 fine for failing to register management fees for helping his friend and campaign donor, Fritz Mowery, as a consultant.  But the special investigation apparently has found new evidence, turned up by the Texas Rangers, that goes far beyond a simple "administrative error" as Paxton called it.

The NY Times has more.

No comments:

Related Posts with Thumbnails