Texas Attorney General Ken Paxton has reached a deal with prosecutors in a decade-long legal saga involving felony securities fraud. The terms of the settlement include nearly $300,000 in restitution for the victims, 100 hours of community service, and 15 hours in ethics courses. Special prosecutor Brian Wice confirmed the settlement, stating that justice had not been denied to the victims, defendant, and the people of Texas, although it may have been delayed. The case was settled just weeks before the scheduled trial date, with dismissal possible in 18 months if Paxton fulfills his obligations.
The allegations against Paxton date back to his time in the Texas state legislature, where he was accused of convincing investors to fund a tech startup without disclosing that he would be paid for recruiting them. He was indicted on two counts of securities fraud and one count of failing to register with state securities regulators in 2015, after becoming attorney general. The trial has been delayed due to venue conflicts and attorney fees. Paxton maintained his innocence, calling the case a result of political persecution. He expressed relief at finally having a resolution and looked forward to putting the case behind him.
Special prosecutor Brian Wice believes the terms of the settlement bring a just conclusion to the case. While the securities fraud investigation may have ended, Paxton could still face a jury if he fails to meet the settlement terms. In addition to the securities fraud case, Paxton has faced other legal troubles, including impeachment and suspension from office in the Texas House. He was acquitted in a trial in the Texas Senate but remains under federal investigation for corruption allegations. Former President Trump has supported Paxton, targeting Republicans in the Texas House who voted to impeach him.
Paxton has been a prominent ally of Trump and a vocal supporter of his baseless claims of voter fraud in the 2020 election. Despite the legal challenges he has faced, Paxton has continued to defend Trump’s positions and align himself with the former president’s views. The settlement in the securities fraud case marks a significant development in Paxton’s legal troubles, offering a resolution to a long-standing legal saga that has overshadowed his tenure as Texas Attorney General. Paxton’s supporters hope that this settlement will allow him to move forward and focus on his duties as the state’s top law enforcement officer.
