The Texas attorney general turned himself in Monday morning after a grand jury in his hometown of McKinney indicted him on three felony charges related to securities violations.
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Paxton arrived at the Collin County jail Monday to be processed on two counts of first-degree securities fraud and a lesser count of failing to register with state securities regulators. “Some of the outrageous events surrounding this sloppy process certainly do not typify the level of quality that Texans expect from our judicial system”, party spokesman Aaron Whitehead said in a statement. That charge, a third-degree felony, could bring two to 10 years in prison if convicted.
Paxton walked in the front door of the county jail to briefly be fingerprinted, photographed and booked.
Paxton’s appearance was a low-key affair compared with the arraignment of then-Governor Rick Perry of Texas on abuse of power charges previous year.
The case against Paxton, an attorney and former state senator, began last year when he admitted violating state securities law by soliciting investment clients for the firm of his friend and campaign donor.
A grand jury indicted Paxton on charges stemming from his time before becoming attorney general in January, alleging he defrauded two individuals of more than $100,000, according to WFAA.
Neither Paxton nor the special prosecutors appointed to the case have commented on the indictment. He and a co-special prosecutor, Brian Wice, only hinted at the indictment over the weekend in a broader statement, saying they are committed to ensuring that anyone accused of a crime is guaranteed a presumption of innocence and a fair trial.
But fellow Republicans haven’t been so publicly dismissive, especially now that Schaffer has said an indictment will be unsealed Monday in Collin County.
“Paxton allegedly pretended to be an investor in the company himself”.
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.
Paxton joins other current or recent state attorneys general facing criminal charges.
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The cloud of a criminal investigation has shadowed Paxton while he emerged as a national Republican figure during his first six months as Texas’ attorney general. Kane, who took office in 2013, has not been charged and has consistently denied that she broke any laws.
