securities fraud

An Indictment in Texas

Ken Paxton speaks after he was sworn in as the Texas attorney general, Monday 5 January 2015, in Austin, Texas.  (AP Photo/Eric Gay)

It really is a strange tale, one notable not so much for public corruption or the fact of it being a Texas Republican, but rather for its bizarre dimensions, the twenty-first century imagining a dystopic marriage of convenience ‘twixt Mack Sennet and Rube Goldberg.

Or something like that. Sam Levine brings the update for Huffington Post:

Texas Attorney General Ken Paxton (R) has been indicted by a grand jury, multiple outlets reported on Saturday.

The indictments were handed down on Tuesday and will be unsealed Monday. Paxton faces three felony charges: two counts of first-degree securities fraud and a third-degree charge of failing to register with the state securities board ....

So, yeah. That’s going on.

____________________

Image note: Ken Paxton speaks after he was sworn in as the Texas attorney general, Monday 5 January 2015, in Austin, Texas. (AP Photo/Eric Gay)

Levine, Sam. “Texas Attorney General Ken Paxton Indicted”. The Huffington Post. 1 August 2015.

Another Texas Scandal

Texas Attorney General Ken Paxton, in undated photo from Dallas Morning News.

The explanation from Reuters is simpler:

Special prosecutors will ask a Texas grand jury as early as this month to indict the state’s attorney general on first-degree felony charges for suspected securities laws violations, one of the prosecutors said on Thursday.

A spokesman for Attorney General Ken Paxton, a Republican who came to office earlier this year with strong Tea Party support, was not immediately available for comment.

“There is evidence that needs to be presented to the grand jury about a couple of different violations. One of which that they will have to determine is if securities fraud was present,” said attorney Kent Schaffer, appointed to investigate the suspected violations.

(Herskovitz)

(more…)