A grand jury in Colin County has indicted Texas Attorney General Ken Paxton on two charges of first-degree securities fraud and one count of third-degree failure to register, two people close to the case told NBC 5 on Saturday.
The indictments were issued on Tuesday and immediately sealed, the sources said, adding they are set to be unsealed on Monday in Collin County.
A Tarrant County judge has been appointed to hear the case, the sources said.
Anthony Holm, a spokesman for Paxton, could not immediately be reached for comment.
With help from the Texas Rangers, the grand jury and two special prosecutors – both defense attorneys from Houston – have been investigating whether Paxton committed a securities crime by acting as a broker without being licensed.
Paxton admitted to the Texas securities board last year that he was not registered when he solicited clients for a friend, investment broker Frederick “Fritz” Mowery, who paid Paxton a fee.
More: www.msnbc.com
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