On Tuesday, Texas Attorney General Ken Paxton agreed to pay almost $300,000 in restitution as part of a deal to resolve criminal securities fraud charges that have followed him for almost ten years. In a Houston courtroom, special prosecutors made an announcement that came just under three weeks before Paxton's scheduled trial on felony charges.
These charges had the potential to result in a prison sentence. According to the AP, this recent development marked the closest Paxton has ever come to facing trial for allegations of deceiving investors in a tech startup near Dallas.
As part of the 18-month agreement, the special prosecutors have offered to dismiss three felony counts against Paxton. In return, Paxton must fulfill certain requirements, including paying full restitution to his victims, completing 100 hours of community service, and undergoing 15 hours of legal ethics education. Paxton remained silent throughout the courtroom proceedings, only acknowledging to state District Judge Andrea Beall that he had signed the agreement. He managed to evade reporters by discreetly exiting through a back door. However, in a statement released later Tuesday, Paxton maintained a strong and confident stance after his recent legal and political triumph. Only half a year ago, he was cleared of corruption allegations during an impeachment trial in the Texas Senate.
"I do not believe there will ever be a conviction in this case, and I maintain my innocence," expressed Paxton. He also expressed gratitude towards his family and supporters for their unwavering support. Paxton can continue serving in his elected position without any impact on his law license. Houston attorney Brian Wice, who served as a special prosecutor in the case, characterized the agreement as a win.
Under the terms, Paxton is obligated to reimburse investors, such as Byron Cook, a former GOP legislator who worked alongside Paxton in the Texas Legislature, and the estate of Joel Hochberg, a South Florida businessman who passed away last year. Paxton was accused of defrauding investors in a Dallas-area tech company called Servergy by failing to disclose that he was being paid by the company to recruit them.
These charges had the potential to result in a prison sentence. According to the AP, this recent development marked the closest Paxton has ever come to facing trial for allegations of deceiving investors in a tech startup near Dallas.
As part of the 18-month agreement, the special prosecutors have offered to dismiss three felony counts against Paxton. In return, Paxton must fulfill certain requirements, including paying full restitution to his victims, completing 100 hours of community service, and undergoing 15 hours of legal ethics education. Paxton remained silent throughout the courtroom proceedings, only acknowledging to state District Judge Andrea Beall that he had signed the agreement. He managed to evade reporters by discreetly exiting through a back door. However, in a statement released later Tuesday, Paxton maintained a strong and confident stance after his recent legal and political triumph. Only half a year ago, he was cleared of corruption allegations during an impeachment trial in the Texas Senate.
"I do not believe there will ever be a conviction in this case, and I maintain my innocence," expressed Paxton. He also expressed gratitude towards his family and supporters for their unwavering support. Paxton can continue serving in his elected position without any impact on his law license. Houston attorney Brian Wice, who served as a special prosecutor in the case, characterized the agreement as a win.
Under the terms, Paxton is obligated to reimburse investors, such as Byron Cook, a former GOP legislator who worked alongside Paxton in the Texas Legislature, and the estate of Joel Hochberg, a South Florida businessman who passed away last year. Paxton was accused of defrauding investors in a Dallas-area tech company called Servergy by failing to disclose that he was being paid by the company to recruit them.
