Judge rejects AG Paxton's request to dismiss his securities fraud charges
Editor's note: The above video shows KXAN News' top morning headlines from Friday, Feb. 16, 2024.
HARRIS COUNTY, Texas (Nexstar) — A Harris County judge rejected Attorney General Ken Paxton's request to toss out his years-long securities fraud charges Friday morning, meaning Paxton will still have to stand trial for allegations that he defrauded investors.
Paxton appeared in a Houston court Friday morning asking a judge to dismiss his charges, nearly nine years since he was first indicted.
Earlier this month, Paxton's legal team asked a Harris County district judge to dismiss his securities fraud charges, claiming his right to a speedy trial has been violated in the case that has gone on for more than eight years.
Shortly after the Republican was first elected to the Office of Attorney General, a Collin County grand jury indicted Paxton in 2015 on two counts of securities fraud — a first-degree felony with a punishment of up to 99 years in prison — and one count of failing to register with state securities regulators — a third-degree felony with a maximum 10 years in prison.
The charges stem from 2011 when Paxton allegedly sought out investors in Servergy Inc. — a tech company based in his hometown of McKinney — without saying he was being paid by Servergy to promote its stock.
Nexstar has reached out to both Paxton's legal team and prosecutors for a statement and will update this story when we hear back.
The trial is currently set for April 15.
This is a developing story, check back for updates.