Prosecutors revealed on Tuesday that they have reached an agreement with Texas Attorney General Ken Paxton, which will lead to the dismissal of securities fraud charges that he has been grappling with for nearly a decade.
According to the terms of the 18-month pre-trial agreement, special prosecutors involved in the case will drop three felony counts against Paxton. As part of the arrangement, Paxton is required to pay full restitution to the victims, amounting to approximately $300,000. Additionally, he must fulfill 100 hours of community service and undergo 15 hours of legal ethics education.
Paxton will avoid trial that was slated to commence in less than three weeks, thanks to the resolution reached. He faced indictment in 2015 over allegations of defrauding investors in a tech startup located near Dallas prior to assuming office as attorney general. Potential consequences included a life sentence if convicted at trial.
The agreement with prosecutors allows Paxton to retain his elected position without any impact on his law license, marking yet another significant legal and political victory for one of the nation’s most prominent Republican state attorneys general. The resolution comes six months after Paxton was acquitted of corruption charges in an impeachment trial conducted by the Texas Senate, bringing an end to the case.
