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News Report Details Additional Securities Law Violations

Paxton improperly referred twice as many clients than he previously admitted
On Sunday, the Dallas Morning News added fuel to the ongoing scandal involving State Attorney General Ken Paxton’s violation of state security laws. The report lays out that Paxton improperly referred six legal clients – twice as many as he has admitted – to a financial advisor without disclosing that he received a payment for the referral. Making the referrals without disclosing his fee arrangement is a third degree felony under state law.
 
The Dallas Morning News report provides significant new details arising from a Texas State Securities Board administrative hearing that the Lone Star Project reported on in March. Our March report cited a January State Securities Board document that mentioned Paxton’s thirty percent referral fee. The most recent news report makes clear that Paxton withheld significant information regarding the number of times he violated state law and the details surrounding those violations.
 

LSP Background on Paxton Scandal

The Lone Star Project has chronicled the Paxton scandal and called on him to come clean on his criminal activity by providing Texans details on his illegal actions – especially now that he is the top ranking law enforcement official in our state.

Read more Lone Star Project reports on the Paxton scandal here.
 

And Stay Tuned for More

Ken Paxton’s improper actions and his failure to be upfront about them have made additional scrutiny imperative. As the Paxton case moves forward, expect the Lone Star Project and news reporters to continue looking closely at his past financial activities and misleading statements.

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