Texas Attorney General Ken Paxton is facing first-degree felony securities fraud charges

Mark Frauenfelder 9:42 am Thu Jul 2, 2015

Tea Party hero Ken Paxton, the Texas Attorney General who won the hateful hearts of homophobes with his vainglorious fight against gay marriage, is facing upcoming first-degree felony securities fraud charges.

The Texas State Securities Board in May 2014 found that Paxton was not properly registered as an investment advisor in his work with the firm. It reprimanded him and fined him $1,000. The special prosecutors, appointed earlier this year, have been looking into possible criminal violations stemming from Paxton’s role with the firm and his failure to properly register as an advisor.

A first-degree felony conviction in Texas can result in 5 to 99 years in prison.

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