Ken Paxton to face criminal trial next year on securities fraud charges

Editor’s note: The above video shows KXAN Live’s top morning headlines for Monday, Oct. 30, 2023.

HOUSTON (Nexstar) — Texas Attorney General Ken Paxton will go to trial on April 15, 2024, after eight years of delays in a case relating to two felony indictments for securities fraud.

Paxton appeared in a Houston courtroom Monday morning for a pretrial hearing. He is facing charges that allege he broke state securities regulations and failed to disclose stock transactions to the state. That case has been delayed since 2015.

Paxton was acquitted of 14 articles of impeachment by the Texas Senate in September, but the jury of senators did not consider the charges of securities fraud. Paxton’s special prosecutors say this case, in a real courtroom with an impartial jury and real threats of prison time, will be different.

“The Senate was just a complete farce,” prosecutor Kent Schaffer said. “This case is going to be different. There will be evidence, rules of evidence will be followed. And I think there’s going to be a decision based solely upon that, you know, as opposed to an outside factor of fear.”

Paxton’s defense team expressed satisfaction with the trial date and the Harris County judge presiding over the case.

“I think this will be a fair trial. We have a fair judge,” defense attorney Philip Hilder said. “This is about the money for the special prosecutors. It’s not about justice.”

This trial is one of multiple pending legal battles Paxton still faces. The former employees who reported Paxton to the FBI for alleged bribery and abuse of office will take their wrongful termination lawsuit to Travis County after the Supreme Court allowed the case to proceed last month.

Paxton’s special prosecutors are also anticipating federal prosecutors to indict Paxton on separate criminal charges.

“All indications are that he will be indicted in the Western District,” prosecutor Brian Wice said “That could have some effect on this case, but we can’t count on that happening. So we’ll move forward.”