Texas Attorney General facing indictment

AUSTIN, Texas August 1 The attorney general of Texas has been indicted on securities fraud and other charges over an alleged scheme to mislead investors in a technology company, the New York Times and other media reported on Saturday. A grand jury had been looking into whether Paxton committed a serious crime by acting as a broker without valid credentials.

The three-count indictment against Ken Paxton, a Republican, will be unsealed in Dallas on Monday, when the former longtime lawmaker was expected to turn himself in to authorities, according to the Times.

Tarrant County Judge George Gallagher has been appointed to handle the case, sources told the Star-Telegram.

Earlier this summer, news surfaced that Paxton’s name had been mentioned in a U.S. Securities and Exchange Commission probe of the company, which has been accused of lying to investors.

“The grand jury elected to indict, and the indictments all speak for themselves”, Schaffer told the Times. That charge, a third-degree felony, could bring two to 10 years in prison if convicted. Schaffer didn’t immediately return messages from the AP, and his co-special prosecutor in the case, Brian Wice, declined comment.

In the meantime, with potential criminal charges looming, Paxton in his first several months as the state’s top lawyer made a name for himself as a conservative crusader on the front lines of the culture wars. Paxton was fined last year for not disclosing to Texas securities regulators he was getting commissions for soliciting investors. The group of investors had been Mr. Paxton’s friends and included a colleague in the Texas House, State Representative Byron Cook. At the time, the state board declined to pursue criminal charges.