Paxton's securities fraud case likely will not be going to trial in April.
AUSTIN, Texas — Texas Attorney General Ken Paxton's securities fraud case likely will not be going to trial in April after prosecutors and Paxton's attorneys have reached a tentative pre-trial diversion agreement, three sources tell KVUE Senior Reporter Tony Plohetski and the Austin American-Statesman.that would have gone to trial on April 15 and for which Paxton faced up to 99 years behind bars.
The sources, who are familiar with the negotiations, asked to remain anonymous because they are not authorized to speak publicly about the ongoing matter.Dan Cogdell who represents Paxton said"I am not going to comment on something that hasn't happened and may well not happen." Records show that Paxton was accused of soliciting clients for an investment company called Mowery Capital Management, run by his friend and campaign donor, Fritz Mowery, without being registered with the board. Testimony and records show Paxton received a 30% management fee for bringing in new investors.
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