|Texas Sized Republican Turd Ken Paxton|
AUSTIN, Texas (AP) — A grand jury has indicted Texas Attorney General Ken Paxton on felony securities fraud charges that accuse the Republican of misleading investors before he took over as the state's top law enforcement officer, a special prosecutor said Saturday.
Kent Schaffer, a Houston defense attorney appointed by a judge to the case, told The New York Times that a Texas grand jury indicted Paxton on two counts of first-degree securities fraud and a lesser charge of not registering.
The most serious allegation is that he encouraged investment in McKinney-based tech startup company Servergy Inc., which is now under investigation by the Securities and Exchange Commission. The Associated Press reported Paxton's involvement with the company — and that a federal investigation was under way — last month.
Paxton also was fined last year for not disclosing to Texas securities regulators that he was getting commissions for soliciting investors.
The grand jury returned an indictment and the criminal prosecution is now pending, the first such criminal prosecution of a Texas Attorney General in 32 years since Texas Attorney General Jim Mattox was indicted for bribery in 1983.
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