Attorney General Ken Paxton speaks at his swearing-in.
New revelations about the business dealings of Texas’ top lawyer could land him in hot water.
Attorney General Ken Paxton may face first-degree felony charges stemming from securities fraud, special prosecutors announced yesterday.
Paxton fessed up to failing to properly register with the state as an investment advisor last year, for which he was fined $1,000 by the Texas State Securities Board. But special prosecutors in Collin County say that the case goes much deeper than that.
"The Rangers went out to investigate one thing, and they came back with information on something else," Special prosecutor Kent Schaffer told WFAA in Dallas
. "It's turned into something different than when they started."
If convicted, Paxton could face life in prison and a fine of up to $10,000. The minimum sentence is five years in prison.
Paxton or his representatives have not publicly commented about the new charges, but he’s lawyered up in a big way. He recently hired former federal judge Joe Kendall, according to multiple reports.
Schaffer and other special prosecutors will soon present their case to a grand jury. Schaffer expects at least six witnesses to testify, according to the Dallas Morning News
Paxton is serving his first term as attorney general. Last week, he made news for counseling county clerks and other entities that issue marriage licenses that “county clerks and their employees retain religious freedoms that may allow accommodation of their religious objections to issuing same-sex marriage licenses."