After nearly a decade of legal battles, Texas Attorney General Ken Paxton has agreed to pay nearly $300,000 in restitution to settle criminal securities fraud charges. The deal was announced by special prosecutors in a Houston courtroom, just weeks before Paxton was scheduled to stand trial on felony charges related to allegations of deceiving investors in a tech startup near Dallas.
Under the terms of the 18-month pre-trial agreement, Paxton will have three felony counts dropped against him in exchange for paying full restitution to victims, completing 100 hours of community service, and undergoing 15 hours of legal ethics education. Paxton, who was indicted in 2015, confirmed his agreement by signing the document in court.
If convicted, Paxton could have faced a life sentence, but his attorneys emphasized that he did not admit guilt as part of the agreement. The resolution of the case allows Paxton to continue serving in his elected position as Texas Attorney General and does not impact his law license.
The securities fraud case has been a long and complex legal saga, involving multiple judges, courtrooms in Dallas and Houston, and delays due to external factors such as Hurricane Harvey. The conclusion of this case marks a significant legal and political victory for Paxton, who was acquitted of corruption charges in a previous impeachment trial.
Despite this resolution, Paxton still faces ongoing legal challenges, including a federal investigation and a civil lawsuit filed by former aides. However, the settlement of the securities fraud case represents a turning point for Paxton, who has maintained strong support among GOP activists and even former President Donald Trump.
The allegations against Paxton stemmed from his involvement with a tech company called Servergy, where he was accused of defrauding investors by failing to disclose his financial ties to the company. While Paxton has faced significant legal hurdles, he has managed to navigate through them and secure re-election as Attorney General.
