Criminal charges, including two counts of securities fraud, have been pending against Paxton since 2015, when the Collin County grand jury indictments were...
Paxton agrees to pay about $270,000 in restitution, take legal ethics courses and complete community service.
Texas Attorney General Ken Paxton, second from right, talks with his defense attorneys Philip Hilder, from left, Dan Cogdell and Anthony Osso, Jr., during a pretrial hearing in Houston on Friday, Feb. 16, 2024, at the Harris County criminal courthouse.HOUSTON – Texas Attorney General Ken Paxton and prosecutors have agreed to dismiss almost 9-year-old criminal charges if the Republican state official completes community supervision and pays about $270,000 in restitution.
Terms of the 18-month intervention agreement, announced Tuesday in a pretrial hearing that had been delayed from last week, also include 100 hours of community service and 15 hours of legal education classes focused on ethics.Paxton was to face trial on April 15 on three felony counts, including two charges of securities fraud. If Paxton, who was in the courtroom Tuesday, completes the terms of the arrangement, the charges will not appear on his record.
Paxton was accused of soliciting investors into Servergy Inc. in 2011 without disclosing that the McKinney tech company was paying him a commission.Four of the investors belonged to a private investment club that included Paxton. Club members agreed that they would watch out for each other and that nobody would exploit the group for personal gain, court records said. Club members also told investigators that they would not have invested in Servergy had they known the company was paying Paxton.
The 2015 indictments against Paxton named two club members as victims of securities fraud – state Rep. Byron Cook, who has since retired from the House, and Florida businessman Joel Hochenberg. Each invested $150,000 in Servergy.The Securities and Exchange Commission sued Paxton alleging securities fraud over his dealings with Servergy, but a federal judge dismissed the lawsuit in 2017, ruling that federal law did not require Paxton to disclose his payment from the tech company.
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