Securities allegations against Texas attorney general will be presented to grand jury
A special prosecutor says he will present evidence to a grand jury of possible state securities law violations by Texas Attorney General Ken Paxton.
The special prosecutor, Kent Schaffer, says one of the possible charges is felony securities fraud, report the Houston Chronicle, Reuters and the Dallas Morning News. Securities fraud is a first-degree felony in Texas if it involves an amount higher than $100,000, according to the Chronicle.
Schaffer and Brian Wice were appointed to investigate after Paxton, a Republican, was fined $1,000 for failing to register with the state before soliciting clients for a friend’s investment firm. He solicited the clients while serving as a state representative.
The investigation was expanded in May to include any offenses arising from Paxton’s violation of state securities law. “We have a sufficient amount of evidence,” Schaffer said, according to the Dallas Morning News account. “Whether it leads to a criminal indictment or not is up to the grand jury.”
The publications were unable to reach a Paxton spokesperson for comment. Last month, spokesman Anthony Holm said, “At least three entities have thoroughly reviewed these matters and each chose not to proceed.”
See also:
ABAJournal.com: “Ethics allegations cloud Texas attorney general race”
