Posted on 08/03/2015 9:57:33 AM PDT by SoFloFreeper
Texas Attorney General Ken Paxton turned himself in Monday morning at the Collin County Jail in McKinney to be booked on three felony charges.
Paxton posted a total of $35,000 bond on two counts of securities fraud and one count of failing to register as an investment adviser.
Sources said a grand jury in Collin County handed up the indictments Tuesday, which were immediately sealed. The charges stem from an investigation carried out by the Texas Rangers.
The first two are first-degree felonies punishable by up to 99 years in prison on conviction. The last is a third-degree felony that carries a punishment range of up to 10 years in prison.
(Excerpt) Read more at m.click2houston.com ...
Seems like getting out in front of this would be a good idea, but I’ve seen no statements from this guy.
Has he made some?
This may be addressing technicalities, or it may be more than that. It’s hard to tell at this point.
Being a financial adviser is a big deal to state insurance commissions. You have to have education and licensure behind you. If you’re caught giving suggestions without them, you can get in hot water.
So this may be somewhat of an innocent infraction, or a more serious clearly criminal act.
And Hillary remains unindicted?
Isn’t that the truth.
Paxton is accused of encouraging investors in 2011 to put more than $600,000 into a technology company, Servergy Inc., that is based in McKinney. He did so, according to the charges, without telling the investors that he was making a commission on their investment. And, he is alleged to have misrepresented himself as an investor in the company.
There is a special prosecutor, Kent Schaffer, and news stories going back at least a month.
"Schaffer has previously indicated investigators had found something new while investigating Paxton's admission last year that he solicited investment clients for a friend and business partner without properly registering with the state. He was reprimanded and fined $1,000 by the State Securities Board."
remember Tom Delay? Well Paxton has made some enemies and he's a "Christian" which makes him twice a target over. The truth is likely that the people who got the ball rolling on this case probably have a lot more skeletons in their close than Paxton does. BTW Paxton is a big supporter of Ted Cruz so no telling why he was targeted. For a $1000 securities violation, really?
Amnesty for illegal alien drug dealers and murderers....
Lifetime imprisonment for someone who failed to fill out paperwork...
#Juxtaprogressive...
So why didn’t any of his Republican oponents in the primary attack Paxton on this point?
^ what it started as..
Lifetime imprisonment for someone whoFixed!failed to fill out paperworkopposes the liberal agenda...
Paxton had already paid a $1000 fine on this, I believe, based on a technical infraction.
Then after the SCOTUS ruling, he issued a statement that no state or county employee would be fired for refusing, based on religious belief, to issue marriage licenses to gays.
Now this.
Some activists on the right warned about this problem. But he was chosen in the primaries. In my opinion if you have this kind of dirt that has not been cleared don’t run for public office.
When you intend to run for public office, it's important to make sure business deals are looked over by attorneys and accountants to make sure everything is done correctly.
this is not an independent judiciary if they condone this conduct. These prosecutors should be disbarred.
Based on this article, Paxton does have the taint of a real conflict of interest, but this news has caught me by surprise. Didn’t know he had already been fined $1000.00 for failure to register as an investment rep. Now this. Texas Ranger involvement usually means something.
Old saying down here: “In Texas a ham sandwich can be indicted.”
Paxton ran unopposed in the May 29 primary.
“What is going on in Texas? Looney prosecutors or not?”
Yesterday, I read extensively about these charges. Paxton is a lawyer and he suggested to some clients they might be interested in investing in a local company. Some of them did invest in this company. Paxton didn’t tell them he would get a commission if they invested and that is what he did wrong, plus he wasn’t registered as an investment advisor. He has already paid a fine of $1,000 in 2014 for not being registered.
Unless his defense attorneys come up with info. we don’t know about, I expect he will have to resign. In my opinion, not telling those people he would get a commission, was done on purpose and that is willful deception.
If he resigns, Governor Abbott would appoint a new Texas Attorney General and he/she would serve until the next scheduled election for Attorney General.
Remember Tom DeLay? Congressman whose career was ruined by false charges of campaign fraud? After being found guilty, his conviction was overturned by the Texas Court of Appeals by an 8-1 vote. Pure RINO/Dem political assassination.
Ken Paxton is very conservative and a committed Christian. He and Governor Abbott are really overturning the GOPe applecart.
Paxton defeated the RINO candidate and Bush favorite Dan Branch in the AG primary. The Bush/GOPe people have never forgiven him and are trying to destroy his career.
No, that was a different offense, "failure to register" as an investment advisor, with that fine being levied by the Texas State Securities Board.
Haven't read the indictment yet (haven't found a copy, still searching), but from news reports, it reads like "fraud."
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