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Texas Attorney General Ken Paxton Indicted

Texas Attorney General Ken Paxton
Twitter via @KenPaxtonTX

According to NBC-DFW, Texas Attorney General Ken Paxton has been indicted. Paxton has been under investigation for violating securities laws.

According to NBC, Paxton has been indicted on three charges Tuesday by a Collin County grand jury. The Texas Attorney General was being investigated for acting as a broker without having a license. In 2014, Paxton admitted to that and paid a $1,000 fine.

According to WFAA in Dallas, the charges will be unsealed on Monday and a judge in Tarrant County has been appointed to preside over the case.

No exact crime has been specified yet. However, WFAA says that the grand jury heard evidence about Paxton violating securities laws, and the outlet reports that special prosecutors in the case told them they will present a third-degree charge of failing to register with the state securities board, as well as a first-degree felony charge of securities fraud.

The charges are likely related to McKinney-based company Servergy, which is being investigated by the Securities and Exchange Commission. Paxton owns 10,000 shares in the company.

Paxton will likely continue to serve as Texas Attorney General, as he is not required to step down or resign.

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