Securities and Exchange Commission Files Fraud Charges Against Texas AG Ken Paxton

Earlier today, the Securities and Exchange Commission filed a formal complaint in Federal District Court in Sherman, Texas charging that Texas AG Paxton engaged in securities fraud. Paxton is already being prosecuted in state court in Collin County, Texas for violations of Texas securities law.
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Earlier today, the Securities and Exchange Commission filed a formal complaint in Federal District Court in Sherman, Texas charging that Texas AG Paxton engaged in securities fraud. Paxton is already being prosecuted in state court in Collin County, Texas for violations of Texas securities law.
 
The federal charges filed against Paxton lay out how he preyed upon the trust and friendship of colleagues and associates to swindle them out of their money. Paxton recommended large financial investments in a failing technology company and never told investors that he was being paid to find new investors.
 
For more than two years, the Lone Star Project has researched and reported on the many illegal and unethical actions taken by Ken Paxton. Reports detailing Paxton’s corruption can be found here.
 

Statement by Lone Star Project Director Matt Angle


“Will it take a prison door slamming in Ken Paxton’s face for Governor Abbott and other state leaders to demand that Paxton step down and allow Texans to be served by an honest and effective Attorney General?

“With today’s federal charges, the Paxton corruption dumpster fire burns hotter than ever. Both state and federal law enforcement officials are working to put him behind bars for swindling his fellow Texans out of hundreds of thousands of dollars. There is a very good chance that the sitting Attorney General of Texas will sometime in the near future be sitting in a state or federal prison.
 
“Governor Abbott needs to take a break from flaking his book and promoting himself to demand that Ken Paxton immediately step down as Texas Attorney General. Ken Paxton remaining in office with the tacit approval of Governor Abbott, Lt. Governor Patrick, Speaker Straus and other statewide leaders reflects not just their tolerance of public corruption but their accommodation of it.”

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