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Texas Attorney General Ken Paxton has reached a settlement to resolve longstanding securities fraud charges. In 2015, Paxton faced an indictment over allegations involving unauthorized stock sales and compensation linked to Servergy, a technology firm based in Texas. The charges accused him of acting as a securities agent without proper registration in the state.

Under the terms of the agreement, the state will retract the charges against Paxton in 18 months, contingent upon him making restitution to the impacted investors and fulfilling requirements for community service and legal education. Notably, Paxton will not acknowledge any wrongdoing as part of this settlement. Dan Cogdell, Paxton’s attorney, said, “This case has been pending literally longer than the Beatles were together, it was time to move on.”

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This settlement marks a significant victory for Paxton, who has faced numerous corruption allegations throughout his tenure since 2014. Notably, he successfully fended off an impeachment attempt last fall, which was propelled by claims that he misused his office to aid a wealthy supporter.

Additionally, Paxton’s legal challenges have included a lawsuit by the US Securities and Exchange Commission over his promotion of Servergy stock without disclosing payment. That case was dismissed in 2017, further establishing Paxton’s contentious yet enduring political career.

Paxton also made headlines in December 2020 by seeking the Supreme Court’s intervention to discard the presidential election results from four states won by Joe Biden.


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