Politics

Texas AG Paxton Nears Trial or Deal in Securities Fraud Case

Mar 26, 2024 1 min read

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Texas Attorney General Ken Paxton is slated to appear in court in Houston for a hearing on longstanding felony securities fraud charges. Paxton, who was indicted in 2015, is accused of misleading investors in a technology company, Servergy Inc., by failing to disclose he was receiving compensation for promoting the company's investments. He has maintained his innocence, pleading not guilty to the charges.

The case has been marked by repeated delays, including disputes over the location of the trial and compensation for special prosecutors. Additionally, a recent motion by Paxton's legal team to have the charges dismissed was rejected by state District Judge Andrea Beall last month.

In the latest development, there have been reports of a tentative pre-trial diversion agreement that, if accepted by the court, could potentially resolve the case without a trial. This agreement would require Paxton to meet certain conditions such as performing community service, taking legal education courses, and paying restitution. Should Paxton fulfill these conditions, the charges against him may be dismissed. The outcome of the pre-trial diversion agreement is pending as Paxton prepares for the upcoming court appearance.

#fraud #corruption #insider-trading

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