After nearly a decade of legal turmoil, Texas Attorney General Ken Paxton has reached an agreement with prosecutors that will lead to the dismissal of longstanding securities fraud charges against him.
The agreement, announced on Tuesday, entails dropping three felony counts against Paxton under an 18-month pre-trial arrangement. As part of the deal, Paxton is obliged to pay full restitution to victims, totaling approximately $300,000. Additionally, he must complete 100 hours of community service and undergo 15 hours of legal ethics education.
The resolution effectively spares Paxton from a trial slated to commence in less than three weeks, which could have potentially resulted in a life sentence had he been convicted. The charges stem from accusations of deceiving investors in a tech startup prior to assuming the role of attorney general.
For Paxton, the agreement signifies a significant legal and political triumph. It allows him to retain his elected position and does not impact his law license. This development comes on the heels of his acquittal of corruption charges in a Texas Senate impeachment trial six months ago.
The conclusion of the securities fraud case marks a remarkable turnaround for Paxton, who faced uncertainty in both his legal battles and political career just a year ago. Despite the cloud of legal challenges, Paxton has maintained steadfast support among GOP circles, buoyed by endorsements from prominent figures such as former President Donald Trump.
While this resolution may signify the end of one legal battle, Paxton still faces ongoing legal scrutiny, including a federal investigation related to similar allegations. Additionally, he is embroiled in a civil lawsuit brought by former aides seeking his testimony, which overlaps with issues raised during his impeachment proceedings.
The securities fraud case, which has shadowed Paxton throughout his tenure as attorney general, has been subject to years of delays and disputes over trial logistics and prosecutorial payments. Despite attempts by Paxton’s legal team to have the charges dismissed on grounds of undue delays, their efforts were rejected by a judge last month.
Although Paxton’s political adversaries have weaponized the fraud allegations against him, particularly during election campaigns, he has defied these challenges, securing re-election as attorney general twice since his indictment.
