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Texas AG Ken Paxton facing first-degree felony fraud charges

By Andrew V. Pestano
Texas Attorney General Ken Paxton could be indicted on first-degree felony charges for securities fraud. Photo courtesy of Ken Paxton/Facebook
Texas Attorney General Ken Paxton could be indicted on first-degree felony charges for securities fraud. Photo courtesy of Ken Paxton/Facebook

HOUSTON, July 2 (UPI) -- What began as a civil violation can now lead to life imprisonment as prosecutors are planning to charge Texas Attorney General Ken Paxton with a first-degree felony.

A Collin County grand jury will be presented with evidence to determine if Paxton should be indicted on felony fraud charges of violating state securities beginning Thursday.

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The Republican attorney general admitted to and was fined $1,000 by the States Securities Board in May for soliciting clients for a friend's investment firm while serving as a state representative without being registered with the state, as required by law.

During the investigation on Paxton, Texas Rangers uncovered new evidence suggesting securities fraud of more than $100,000.

"We believe that there's sufficient evidence to present to a grand jury," special prosecutor Kent Schaffer said. "Whether it leads to a criminal indictment or not is up to the grand jury."

A first-degree felony conviction can result in a fine up to $10,000 and five to 99 years or life imprisonment.

Paxton began his term as attorney general in January and has been criticized for his conservative views.

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In response to the recent Supreme Court ruling legalizing same-sex marriage, the attorney general released a nonbinding legal opinion stating that the religious freedoms guaranteed by the First Amendment "allow accommodation of [county clerks'] religious objections to issuing same-sex marriage licenses."

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