Texas Attorney General Ken Paxton on Tuesday struck a deal with prosecutors investigating him for felony securities fraud, closing a legal saga that has dogged the state’s top law-enforcement officer and close ally of former President Donald Trump for nearly a decade.
Special prosecutor Brian Wice confirmed the case was settled in a phone call with CNN on Tuesday. He said in an emailed statement the terms included nearly $300,000 in restitution for the victims, 100 hours of community service and 15 hours in ethics courses.
“This agreement may not be perfect but it ensures that while justice was certainly delayed, it most certainly was not denied to the victims, the defendant, and the people of the State of Texas,” Wice said in a statement.
The settlement comes just weeks before an April 15 trial date in the case. Paxton’s attorney Dan Cogdell said after the hearing that the case will be dismissed in 18 months if Paxton fulfills his obligations.
The allegations against Paxton stemmed from his time in the Texas state legislature, when he was accused of convincing investors to fund a tech startup without disclosing he would be paid to recruit them.
A grand jury indicted Paxton on two counts of securities fraud and one count of failing to register with state securities regulators in July 2015, months after he was sworn in as attorney general. A trial has been delayed for years by various conflicts over venue and attorneys’ fees.
In a statement on Tuesday, Paxton said he was the victim of “political persecution” and was “relieved to finally have a resolution in this matter.”
“There will never be a conviction in this case nor am I guilty,” Paxton said, adding that dealing with the case “was no easy task.”
“I look…
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