Politics Republican Texas Attorney General Ken Paxton indicted on felony securities fraud

Discussion in 'The Howard Stern Show' started by dawg, Aug 1, 2015.

  1. dawg

    dawg In The Dog House Staff Member

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    A grand jury has indicted Texas Attorney General Ken Paxton on felony securities fraud charges that accuse the Republican of misleading investors before he took over as the state's top law enforcement officer, a special prosecutor said Saturday.

    Kent Schaffer, a Houston defense attorney appointed by a judge to the case, told The New York Times that a Texas grand jury indicted Paxton on two counts of first-degree securities fraud and a lesser charge of not registering.

    The most serious allegation is that he encouraged investment in McKinney-based tech startup company Servergy Inc., which is now under investigation by the Securities and Exchange Commission. The Associated Press reported Paxton's involvement with the company — and that a federal investigation was under way — last month.

    Paxton also was fined last year for not disclosing to Texas securities regulators that he was getting commissions for soliciting investors.

    Paxton's lawyer and a spokesman for his office didn't respond to messages seeking comment Saturday by the AP. Schaffer didn't immediately return messages from the AP, and his co-special prosecutor in the case, Brian Wice, declined comment.

    The new indictment will be unsealed Monday.

    Paxton's aides have said the investigation in Collin County, home to McKinney, was politically motivated. But Schaffer and Wice have rebuffed those accusations, noting that the investigation involved the Texas Rangers.

    Schaffer told The New York Times that the allegations regarding Servergy are first-degree securities fraud. He said Paxton is accused of encouraging investors in 2011 to put more than $600,000 into Servergy, while not telling them he was making a commission on their investment and misrepresenting himself as an investor.

    He said Paxton is expected to turn himself in to authorities in Collin County on Monday.

    Conviction of a first-degree felony in Texas carries a punishment of five years in prison to life.

    Paxton is also accused of failing to register as a solicitor while taking commissions for referring law clients to a financial investor. That charge, a third-degree felony, could bring two to 10 years in prison if convicted.

    Paxton accepted a $1,000 fine from the Texas State Securities board last year. At the time, the state board declined to pursue criminal charges. But the matter was revived after a complaint by the left-leaning watchdog group Texans for Public Justice, and a judge ultimately appointed the two special prosecutors.

    "It is time for Paxton to face the consequences. This is yet another example of the corrupt culture that fester with one-party, unchecked Republican power," Texas Democratic Party Executive Director Manny Garcia said.

    The cloud of a criminal investigation has shadowed Paxton while he emerged as a national Republican figure during his first six months as Texas' attorney general.

    A tea party star in Texas, Paxton recently advised county clerks they could refuse to issue marriage licenses to same-sex couples on religious grounds after the U.S. Supreme Court legalized the unions nationwide.

    http://abcnews.go.com/US/wireStory/prosecutor-texas-ag-indicted-felony-securities-fraud-32827968
     
  2. Chibbs

    Chibbs Well-Known Member

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    It is politically motivated but the dipshit should have still registered as a solicitor.
    This is all about liberal democrat not being willing to accept the fact that they lost the election.

    The fact that Rick Perry was indicted by a Grand Jury for acting within his rights as Governnor proves that the Texas Grand Jury systems needs some work.
     
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  3. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Will everyone in Baltimore be indicted for falsifying information in an attempt to railroad the six police officers?
     
  4. dawg

    dawg In The Dog House Staff Member

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    You and i need to go out and have a beer, i feel we both need it.
     
  5. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    I need six or eight beers. I'm buying.
     
  6. dawg

    dawg In The Dog House Staff Member

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    Maybe we can solve the worlds problems by tying one on.
     
  7. ltd86

    ltd86 Racist Banned User

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    Lmao.

    Democrat US Congressman indicted on numerous charges a couple of days ago, media ignore it.

    Some hick Texas AG indicted on boring securities fraud, it's headline news everywhere.
     
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  8. dawg

    dawg In The Dog House Staff Member

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    It's still a felony. And hick? I'm offended by that racist remark :no:
     
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  9. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    I'm just trying to solve my light sleeping problem. Eight beers should help.
     
  10. dawg

    dawg In The Dog House Staff Member

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    :beer:
     
  11. MyLazyHand

    MyLazyHand Russia and France Know What to Do

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    Cheers. May good luck and fortune find you.

    Read my "dream" thread I'm writing now.
     
  12. dawg

    dawg In The Dog House Staff Member

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    Will do :lo5:
     
  13. ltd86

    ltd86 Racist Banned User

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    no doubt he should get in trouble if true, but we should treat all crooked politicians (in other words, all politicians) the same way

    i meant hick with love :love:
     
  14. dawg

    dawg In The Dog House Staff Member

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    In that case, :lo5:
     
  15. Skipnoid

    Skipnoid Lick Me!

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    [​IMG]
    The guy in the painting behind him is creepy.
     
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  16. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    I'm offended that your offended.

    Didn't they gut Scott Browns bill that made insider trading illegal in congress? Maybe he can use that as a president.
     
  17. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    I know I spelled it wrong but am too lazy to fix it
     
  18. dawg

    dawg In The Dog House Staff Member

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    I'm not really offended.
     
  19. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    I'm offended that you're not offended by my saying that I was offended by you being offended.
     
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  20. Beth143nacho

    Beth143nacho Well-Known Member VIP

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    Immalso very drunk