Texas Attorney General Ken Paxton reaches deal to avoid securities fraud trial
Texas Attorney General Ken Paxton reached a deal to avoid a trial in his securities fraud case nine years after he was indicted on felony charges.
Texas Attorney General Ken Paxton has agreed to pay nearly $300,000 in restitution, take legal ethics classes and complete 100 hours of community service as part of a deal to avoid a jury trial in his securities fraud case.
Paxton, a Republican, was indicted in 2015 on three felony charges that he had misled investors, including failing to disclose he was profiting on investments he urged people to make. He reportedly pleaded not guilty.
If Paxton completes the terms of the pretrial deal, prosecutors will dismiss the charges in 18 months.
“There was no admission of guilt,” Paxton lawyer Dan Cogdell told reporters after the deal was announced in court Tuesday, reiterating Paxton’s innocence. “But we’re glad to have this behind us.”
Pressed about why Paxton was willing to pay the significant sum if he was innocent, Cogdell said jury trials are unpredictable.
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