SEC Charges Ken Paxton With Securities Fraud
Source: Texas Tribune
Texas Attorney General Ken Paxton has been charged in federal court with allegedly misleading investors in a technology company.
The U.S. Securities and Exchange Commission filed the charges Monday in a Sherman-based court. They are similar to the allegations Paxton faces in a pending indictment handed up by a Collin County grand jury last year.
Paxton is named in the SEC's complaint along with William Mapp, the founder and former CEO of Servergy Inc. Paxton is accused of raising hundreds of thousands of dollars for Servergy without disclosing he was making a commission.
"People recruiting investors have a legal obligation to disclose any compensation they are receiving to promote a stock, and we allege that Paxton and White concealed the compensation they were receiving for touting Servergys product," Shamoil T. Shipchandler, director of the SECs Fort Worth regional office, said in a news release on the complaint.
Read more: https://www.texastribune.org/2016/04/11/sec-charges-paxton-securities-fraud/
blm
(113,052 posts).
2naSalit
(86,579 posts)Human101948
(3,457 posts)The SEC should respect local custom.
Jackie Wilson Said
(4,176 posts)LiberalArkie
(15,715 posts)hold office
Javaman
(62,521 posts)Dustlawyer
(10,495 posts)I would bet in Vegas that he will even with poor odds against my bet! Not because I believe him to be innocent either.
Gothmog
(145,176 posts)In addition, this is a civil case. The SEC is seeking an injunction and not to put Paxton in jail but the DOJ often follows one of these lawsuits with a criminal complaint. The SEC and the DOJ have a history or working together
hobbit709
(41,694 posts)Thespian2
(2,741 posts)in Texas? This old graduate of U of H finds that so hard to believe...NOT!
Major Nikon
(36,827 posts)Gothmog
(145,176 posts)Sam is a good guy and should have won
czarjak
(11,269 posts)Huh, Ken?
vkkv
(3,384 posts)DhhD
(4,695 posts)snip
But the exiled peoples of the Bible were not powerful men who had lost or in Paxtons case, won elections. They were not mainstream religious congregants offended by changes in civil law. The problems that Paxton portends are just not that great a threat to the American godly: Even if they were, the correctives Paxton has yet offered dont seem all that audacious, anyway.
Paxton would like to be a biblical hero. But it is he and his friends, not his enemies, who enjoy most of the high offices of state. Paxton is the law; he holds the title of highest-ranking legal official in Texas. These congregants, too, judge themselves to have inherited the Jews transcendent pain of exile. But they leave their lovely church smiling, walking with their lovely families to return unmolested to their big Texan automobiles.
Is Texas really hedonistic, predatory Babylon? Grapevine doesnt much look it, although its true that the Grapevine GrapeFest, a festival centered around heavy wine consumption, was taking place just across the street. Nebuchadnezzar would have loved it, probably.
Skittles
(153,160 posts)UGH