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?
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...
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.
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.”
“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.
For those awaiting the 3AM no knock raids or some other drastic “trigger event” that will signal the beginning of WWIII, you won’t see it. THIS is the beginning of the end - don’t agree with the leftist extremists? Go directly to jail.
“The first two are first-degree felonies punishable by up to 99 years in prison on conviction.”
For securities fraud. You don’t get that for murder. Even in worst of the USSR, Stalin’s dreaded sentence was a “tenner” 10 years.
Fair amount of shared ignorance downthread.
First, the county where he was indicted is heavily Republican, and a TEA party stronghold.
Second, this didn’t crop up after he took office. He admitted the facts surrounding the investment adviser charge before the election. (The fraud charges are new). So the indictment on that count shouldn’t be unexpected.
I have no opinion as to his guilt on any of the charges, but no one should express surprise as to the current circumstances.