Texas Attorney General Ken Paxton has been accused in the past of shady business dealings. This week a grand jury of Texas citizens indicted him for securities violations. His Texas Tribune biography claims he “is known for his principled and uncompromising devotion to America’s founding values.” But like all the self-professed Christian value GOP leaders, Paxton now faces three felony charges for duping business people who put their faith in those “principles” and “values.” According to the charges, he encouraged investors to sink more than a half-million dollars into a technology company; but he did not disclose that he was earning a commission on their investments while falsely claiming he himself was an investor in the company.
This is not Paxton’s first rodeo. Last year during elections he was reprimanded by the Texas State Securities Board for violations of state securities laws. According to the Securities Board, Paxton solicited clients on behalf of investment advisors without registering as a representative for the advisors. He had been sued five years earlier for breach of fiduciary duty in a lawsuit claiming that he solicited investments without revealing the sizeable commissions he would receive. Starting to sound familiar?
Paxton has yet to comment on these most recent developments regarding his sketchy business dealings. Given that his indictment was handed down by a grand jury of Texas citizens, he may find it difficult to shift the blame, although you know he will try.