Texas Attorney General Ken Paxton has reached a deal to pay $300,000 in order to avoid a felony trial on charges of securities fraud. Paxton, who has been facing allegations of fraud for years, has been accused of misleading investors in a technology company while serving in the Texas House of Representatives.
The deal, which was confirmed by Paxton’s attorney, allows Paxton to settle the charges without admitting to any wrongdoing. In a statement, Paxton expressed his satisfaction with the agreement, stating that he was “happy to comply” and that he believes the outcome is in the best interest of his family and constituents.
The charges against Paxton date back to 2015 when he was indicted by a grand jury on two counts of securities fraud and one count of failing to register with the Texas State Securities Board. Paxton has maintained his innocence throughout the legal proceedings and has denied any wrongdoing.
Paxton’s legal troubles have been a source of controversy for years, with some critics calling for his resignation due to the ongoing investigations. Despite the settlement, Paxton’s political future remains uncertain as he faces re-election next year. Some opponents have already announced plans to challenge him in the upcoming race.
Overall, the settlement allows Paxton to avoid a potentially damaging trial and move forward with his political career. While the deal does not require Paxton to admit guilt, it does require him to pay a hefty sum in order to settle the charges. As the case comes to a close, many will be watching to see how Paxton’s legal troubles impact his future in Texas politics.
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