Texas Attorney General Ken Paxton (R) reached an agreement on Tuesday to have the security fraud charges brought against him dismissed. The charges, which have lingered for nine years, were scheduled to be heard by a jury in mid-April. As part of the agreement, Paxton will be required to serve 100 hours of community service and undertake 15 hours of legal ethics education. Additionally, Paxton will be required to make a payment of approximately $270,000 in restitution to his accusers.
The charges stem from a 2015 indictment regarding Paxton’s role in a technology firm. He was accused of allegedly failing to disclose his financial interest in the firm to investors while persuading them to invest. While the Texas Attorney General agreed to the settlement terms, he continues to maintain his innocence regarding the allegations. The agreement with prosecutors did not require him to admit guilt.
“It was a case on Day One we knew they couldn’t prove, and on year nine, we still knew they couldn’t prove. Ken’s not guilty,” said Dan Cogdell, the attorney representing Paxton in the matter.
The security fraud settlement brings to a close most of the legal troubles that have dogged Paxton — often pushed by his political enemies in the state. Late last year, an effort by moderate Republicans and Democrats in the Texas state legislature to impeach the conservative Attorney General failed. Several of the star witnesses brought by the pro-impeachment lawmakers either proved unreliable or recanted their testimony.