Texas Attorney General and Tea Party Republican Ken Paxton turned himself in on Monday and was booked on three felony charges of suspected securities fraud, reported the Huffington Post. Criminal abuse of power and fraud seems to be the trend in Texas politics.
Paxton was booked for processing, and had his mugshot taken at the Collin County Jail outside of Dallas, Texas. He was booked on two first-degree felonies for securities fraud and one third-degree felony for failing to register with the state of Texas to sell securities. He is accused of defrauding at least two individuals of more than $100,000. Paxton faces up to 99 years in prison if convicted for just of the first-degree felonies.
According to WFAA, the securities fraud indictments are related to Servergy, a tech company based in McKinney, Texas. Servergy has been under investigation by the Securities and Exchange Commission (SEC) for allegedly defrauding its investors. The SEC filed a suit against the company to review records that may include “possible misstatements and omissions related to Servergy’s purported business relationships and technology.”
Paxton’s case is the second high-profile indictment of a Texas state official since former Gov. Rick Perry was indicted on an abuse of power charge last year. Fraud and political bullying are common activities of Texas Republicans. Considering the state’s “good ol’ boy” system, the likelihood that Paxton will be served justice is anybody’s guess.
