Texas Attorney General Ken Paxton reaches deal to avoid securities fraud trial

Texas Attorney General Ken Paxton has agreed to pay nearly $300,000 in restitution, take legal ethics classes and complete 100 hours of community service as part of a deal to avoid a jury trial in his securities fraud case. Paxton, a Republican, was indicted in 2015 on three felony charges that he had misled investors, including failing to disclose he was profiting on investments he urged people to make. He reportedly pleaded not guilty.

“There was no admission of guilt,” Paxton lawyer Dan Cogdell told reporters after the deal was announced in court Tuesday, reiterating Paxton’s innocence. “But we’re glad to have this behind us.” Pressed about why Paxton was willing to pay the significant sum if he was innocent, Cogdell said jury trials are unpredictable. “It’s cheaper than what he’d have to pay me if we went to trial,” Cogdell said. “There’s no guarantee when you go in front of a trial. Any trial lawyer will tell you that.

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