Now and then, the Republican politicians of the state of Texas manage to make it to the headlines. The Attorney General of Texas, Ken Paxton, has been in the news for various controversies from time to time. This month of July is almost about to end, while AG Ken Paxton’s securities fraud case completes its fifth year since the indictment by a state grand jury.
AG Ken Paxton, who’s native of North Dakota, has been serving as Texas’ 51st Attorney General since 2015. On July 28, 2015, he was indicted by the grand jury for committing securities fraud. Now, it’s been five years to the case this month, and nothing has happened yet.
Ken Paxton and Securities Fraud
A grand jury of the state indicted AG Paxton on three counts: one is for failing to disclose the information with the regulators of securities. It is a third-degree felony. The remaining two counts are for committing securities fraud, which is a first-degree felony.
The case has followed him for five years like a shadow, but that couldn’t stop his reelection in 2018. Mr. Paxton was charged by law enforcement for guiding the investors to invest in Servergy Inc.
Servergy is a tech company. and he did not disclose the fact that he was receiving the commission through this deal.
He sold the stocks to investors and raised $840,000. However, he received 100,000 shares from the company. He defended this compensation by saying that the shares were gifts from the company’s founder, not a commission.
Ken Paxton says he hasn’t committed any fraud, whereas this indictment is purely a political witch-hunting from the rivals.
It’s been five years since the charges were lodged against him in Texas. But somehow he’s been tried by the court. The case keeps getting delayed due to various reasons. The current main reasons for the delay are the dispute over how much compensation the special jury handling this case should receive, and where he should be tried.
Somehow the case keeps bouncing from one court to another: from North Texas to Harris County. It possibly will go back to Collin County, where he currently lives.
The question that we want to ask is, will he ever be tried for the fraud that’s done? Or is it safe to assume that law isn’t equal to all?
Recently, another Republican, Rep. Louie Gohmert tested COVID-19 positive, and shockingly, refused to follow the health protocol by wearing a face mask.
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