Texas Attorney General Ken Paxton cuts deal to have fraud charges dropped, trial canceled

Texas Attorney General Ken Paxton, shown at the Republican Party of Texas convention in San Antonio in 2018, has cut a deal to have the securities fraud charges filed against him dropped.has reached a deal with prosecutors to have the felony securities fraud charges against him dropped and his trial canceled.

The announcement marks a major win for Paxton, 61, his lawyers said after the hearing. He can now put behind him the legal cloud that has darkened the entirety of his tenure as attorney general. He said the prosecution made the agreement now, and not sometime in the last nine years, because Paxton's lawyers agreed to pay his accusers. They could not have approached this deal earlier because the case was wrapped up in appeals courts, he added.

Indicted just months after he took office in 2015, Paxton was accused of failing to tell investors in a McKinney technology firm that he had a financial interest in the company before getting them to buy in. He also did not register with the state before soliciting clients for a friend’s investment firm,This deal keeps him in office — and out of state prison.

That the case took this long to reach a trial date is unusual. Some delays were due to acts of God, others manmade, from hurricanes to a protracted fight over the prosecutors’ pay rate.

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