Paxton surrendered to authorities in Collin County on Monday morning on two charges of securities fraud in excess of $100,000 and a third felony charge for advising or representing investors without properly registering, according to booking records.
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The Collin County jail normally makes suspects wear a towel around their neck before taking their mug shot. The mugshot instead shows the Republican in a suit and tie, setting off accusations of special treatment.
Paxton faces two counts of first-degree securities fraud and a lesser charge of failing to register with state securities regulators.
On Monday afternoon, Ken Paxton’s attorney Joe Kendall released a statement saying Paxton will not plead guilty and will seek a trial by jury.
But whereas Perry defiantly welcomed the cameras within minutes of being processed at an Austin jail, Paxton ducked reporters while leaving jail on bond.
Paxton has not publicly commented on the charges but his defenders – and Perry’s – have portrayed pending indictments as politically motivated. However, some are already calling for him to resign, including several Democratic Party officials.
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. Paxton paid a $1,000 fine and his aides said this was administrative oversight and the criminal investigation was a political hit job, CBS News reported.
Questions about Paxton’s financial dealings shadowed the Tea Party conservative throughout his first seven months on the job. While serving in the Legislature in 2011, Paxton told Cook that he personally invested in Servergy and offered Cook a chance to buy more than $100,000 of stock in the company, according to the indictment.
Paxton leads a three-man race for the GOP attorney general nomination and faces state Rep. Dan Branch in a runoff.
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Since being overwhelmingly elected by the voters of Texas, General Paxton has helped lock up child predators, investigated the odious acts of Planned Parenthood, relentlessly pushed back against an overreaching federal government, and we expect him to fight these allegations with that same zeal. Kane, a Democrat who took office in 2013, has not been charged and has denied breaking any laws.
