Carlybee
08-03-2015, 07:07 AM
Texas AG Ken Paxton to Turn Himself In
. COLLIN COUNTY, Texas -
Texas Attorney General Ken Paxton is expected to present himself at the Collin County Jail in McKinney around noon Monday to be booked on three felony charges after sealed indictments are opened.
Sources said a grand jury there handed up the indictments Tuesday, which were immediately sealed. Investigators allege two counts of Securities Fraud and one count of failing to register as an investment adviser with the Texas State Securities Board. The charges stem from an investigation carried out by the Texas Rangers.
The first two are first-degree felonies punishable by up to 99 years in prison on conviction. The last is a third-degree felony that carries a punishment range of up to 10 years in prison.
Veteran Houston defense attorney Dan Cogdell said there's little chance of a plea bargain in the case.
"I can't image this case not being a bare knuckles barroom fight in a courtroom at the end of the day. There's just too much at stake," Cogdell said
Paxton spokesman Anthony Holm characterized the case as a political witch hunt before news off the indictments leaked over the weekend.
But Cogdell said that won't work as a legal defense.
"This is not a backroom deal, this not a political witch hunt. The defense is he's not guilty, the defense is that he absolutely had no criminal intent on the three offenses filed, and they better get ready for trial, this case is going to trial," Cogdell said.
The charges date to Paxton's time as a member of the Texas House of Representatives.
They allege according to sources, that Paxton received commissions to solicit investors for a McKinney computer company called Servergy, without revealing he was receiving commissions. Servengy is now also under investigation by the federal Securities and Exchange Commission.
It's also that he alleged Paxton was paid to solicit investment clients for his friend Frederick "Fritz" Mowery's firm.
In 2014, Paxton was fined $1,000 by the state for not registering as an investment adviser, but there was no criminally prosecution at that time.
The Texas State Democratic Party is calling for Paxton's resignation, and planning a protest at the Collin County Courthouse Monday morning.
http://www.click2houston.com/news/reports-texas-attorney-general-ken-paxton-indicted/34485466
. COLLIN COUNTY, Texas -
Texas Attorney General Ken Paxton is expected to present himself at the Collin County Jail in McKinney around noon Monday to be booked on three felony charges after sealed indictments are opened.
Sources said a grand jury there handed up the indictments Tuesday, which were immediately sealed. Investigators allege two counts of Securities Fraud and one count of failing to register as an investment adviser with the Texas State Securities Board. The charges stem from an investigation carried out by the Texas Rangers.
The first two are first-degree felonies punishable by up to 99 years in prison on conviction. The last is a third-degree felony that carries a punishment range of up to 10 years in prison.
Veteran Houston defense attorney Dan Cogdell said there's little chance of a plea bargain in the case.
"I can't image this case not being a bare knuckles barroom fight in a courtroom at the end of the day. There's just too much at stake," Cogdell said
Paxton spokesman Anthony Holm characterized the case as a political witch hunt before news off the indictments leaked over the weekend.
But Cogdell said that won't work as a legal defense.
"This is not a backroom deal, this not a political witch hunt. The defense is he's not guilty, the defense is that he absolutely had no criminal intent on the three offenses filed, and they better get ready for trial, this case is going to trial," Cogdell said.
The charges date to Paxton's time as a member of the Texas House of Representatives.
They allege according to sources, that Paxton received commissions to solicit investors for a McKinney computer company called Servergy, without revealing he was receiving commissions. Servengy is now also under investigation by the federal Securities and Exchange Commission.
It's also that he alleged Paxton was paid to solicit investment clients for his friend Frederick "Fritz" Mowery's firm.
In 2014, Paxton was fined $1,000 by the state for not registering as an investment adviser, but there was no criminally prosecution at that time.
The Texas State Democratic Party is calling for Paxton's resignation, and planning a protest at the Collin County Courthouse Monday morning.
http://www.click2houston.com/news/reports-texas-attorney-general-ken-paxton-indicted/34485466