Texas attorney general charged with securities fraud
Ken Paxton is charged with misleading investors.
Click here for reuse options!Paxton is named in the SEC’s complaint along with William Mapp, the founder and former CEO of Servergy Inc. Paxton is accused of raising hundreds of thousands of dollars for Servergy without disclosing he was making a commission. The case stems from when Paxton was a member of the Texas House — before he was elected attorney general in 2014.
“People recruiting investors have a legal obligation to disclose any compensation they are receiving to promote a stock, and we allege that Paxton and White concealed the compensation they were receiving for touting Servergy’s product,” Shamoil T. Shipchandler, director of the SEC’s Fort Worth regional office, said in a news release on the complaint.
Paxton has pleaded not guilty to the three felony counts he faces in the criminal case.
Copyright 2016 Liberaland
7 responses to Texas attorney general charged with securities fraud
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Carla Akins April 11th, 2016 at 15:15
Texas elected officials have such a tough time remaining unindicted.
Buford2k11 April 11th, 2016 at 15:57
A sad reflection on the one time “The Morals Party”…they have neither morals nor ethics…to be a republican has to be very difficult if you are an honest person…it seems that the criminal element has infused the GOP big time…with perverts, and crooks…with influence peddlers, and ass kissers…the modern GOP…
amersham46 April 11th, 2016 at 16:37
He only has a JD and MBA, so what would he know about law or business ethics
whatthe46 April 11th, 2016 at 16:56
Ha. I bet he’s one of those wanting hillary arrested.
William April 11th, 2016 at 17:11
Too bad all the abandoned Wal-Marts are filled with the political prisoners from Jade Helm.
Texas…yee, haw!
DogsRgoodpeople April 11th, 2016 at 17:14
Thanks Obama !
majii April 11th, 2016 at 17:35
I’m glad this case will be heard in a federal court and no state court in Texas will be involved because when they are, every GOP/TP politician eventually goes scot-free. DeLay and Perry come to mind.