Prosecutors Reword Paxton Charges in New Indictments
The reindictments include the same basic allegations, but use new wording that Paxton "unlawfully and intentionally" sold securities fraudulently by intentionally not disclosing facts so that investors would buy stock.
August 19, 2015 at 09:20 AM
4 minute read
At the request of prosecutors, a judge dismissed two securities fraud charges against Texas Attorney General Ken Paxton. The prosecutors obtained new indictments for the same charges.
The reindictments include the same basic allegations, but use new wording to claim that Paxton “unlawfully and intentionally” sold securities in the form of stock and engaged in fraud by intentionally failing to disclose two material facts that he knew about because he wanted to induce investors to purchase the stock in a McKinney-based technology company. The reindictments are written in a new format to list the two material facts that Paxton intentionally kept secret.
“This confirms that there have been troubling issues with the grand jury process from the beginning. They had months to investigate and then rushed to indict. Now, the special prosecutors are back to clean up the botched indictments. It should make every fair-minded person question the process in this case,” said a statement by Paxton's criminal defense lawyer, Joe Kendall, which was emailed to Texas Lawyer by Barry Pound of Androvett Legal Media & Marketing.
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