Texas Attorney General Ken Paxton is set to return to court on Tuesday, bringing him one step closer to facing trial on long-standing felony securities fraud charges. These allegations have haunted the Republican politician for almost ten years.
The April trial’s status remained uncertain, as last week, a final pretrial hearing before a Houston judge was unexpectedly rescheduled. Both a special prosecutor and one of Paxton’s attorneys opted not to comment on whether the case would proceed or if a potential settlement was being considered.
If Paxton is found guilty, he may face imprisonment and be barred from holding any state office. Despite facing several legal issues, including an ongoing FBI probe into corruption allegations and a previous impeachment trial that resulted in his acquittal, Paxton has consistently maintained his innocence.
The hearing scheduled for Tuesday was supposed to be held in front of state District Judge Andrea Beall.
Brian Wice, the special prosecutor who has been at the forefront of the case since its inception, and Dan Cogdell, one of Paxton’s defense attorneys, have chosen not to provide any comments.
The securities fraud case against Paxton has been ongoing since 2015, with several delays due to pre-trial disputes over the trial location in either Dallas or Houston, as well as payment issues for the state’s special prosecutors. It has been argued by the prosecutors that Paxton is responsible for most of these delays.
Last month, Beall denied Paxton’s lawyers’ attempt to dismiss the charges against him on the grounds that the years of delay had violated his right to a speedy trial.
Paxton allegedly defrauded investors in a tech company called Servergy in the Dallas area. He is accused of not disclosing his financial arrangement with the company to recruit investors. Among those he is accused of defrauding is former state Rep. Byron Cook.
Paxton faces charges of securities fraud and failing to register as an investment adviser. He maintains his innocence and has pleaded not guilty to the accusations. If convicted, he could face a maximum sentence of 99 years in prison for the two securities fraud charges.
Paxton faced additional legal troubles in a federal civil complaint filed by the U.S. Securities and Exchange Commission regarding his involvement with Servergy. However, in March 2017, a federal judge dismissed the complaint against him.
The securities fraud case has loomed over Paxton for almost his entire tenure in statewide office. However, despite facing this challenge, Paxton, 61, has displayed impressive political tenacity. He has managed to maintain and even strengthen his support among GOP activists both at the state and national levels, including receiving endorsement from former President Donald Trump.
Throughout his three terms as one of the nation’s most prominent state attorneys general, Paxton has faced a multitude of legal issues. Among them are criminal charges that have consistently plagued him. Last year, he faced an impeachment trial in the Texas Senate, where he was ultimately acquitted. The allegations against him centered on accusations of misusing his office to benefit a wealthy donor.
A federal investigation is currently examining some of the same charges that were brought up during his impeachment.
Former top aides are currently attempting to compel him to testify in a whistleblower civil lawsuit, which also encompasses the allegations central to the impeachment. However, he is fiercely opposing these efforts.
