Texas Attorney General Ken Paxton fraud trial set for May

Lisa Dreher

Texas Attorney General Ken Paxton will face trial for criminal fraud charges beginning May 1, according to the Austin American-Statesman.

Paxton has been charged with three felonies for securities fraud, with each carrying a maximum sentence of 99 years. A Collin County grand jury accused Paxton on two charges of encouraging investors to invest in the startup Servergy Inc. in 2011 without telling them he received a cut of the shares of stock.

Paxton was also accused of a third charge for not registering himself as an investment adviser. Paxton has pleaded not guilty to all three charges and said he will fight to keep his job.

Jury selection in Collin County will begin mid-April, according to Judge George Gallagher. The U.S. Securities and Exchange Commission accused him in April of the same activities in a federal civil case. The case was thrown out by a federal judge in October but was recently amended and renewed.

Paxton’s trial will occur near the end of the legislative session that began Tuesday and before state politicians will announce bids for the 2018 primary. According to the Austin-American Statesman, Paxton has raised $2.7 million in campaign funds in 2016.