Request Denied, Texas AG Ken Paxton to Stand Trial in April for Alleged Securities Fraud

Texas Attorney General Ken Paxton's bid to derail a near-decade-old securities fraud case came to naught on Friday when a Harris County judge turned down his request for dismissal, reported the Houston Chronicle. Facing charges from actions dating back to 2011, Paxton, 61, allegedly misled investors into backing a technology startup without disclosing he received compensation from the firm. Moreover, he's accused of soliciting clients for a friend’s investment firm without proper registration.

Arguing that the protracted time to trial infringed his right to a speedy hearing, Paxton's legal defense claimed the onus of the delay lay with the special prosecutors' pursuit of extra payment. This claim was disputed by prosecutors who pointed out that unlike those who can't afford bail, Paxton has been "living his best life," Brian Wice, one of the prosecutors, told the Houston Chronicle. Paxton's counsel, Dan Cogdell, countered that the delay was out of his client's control.

The case has seen Paxton remain predominantly free on bond, spending roughly one day behind bars post-bail, with several court appearances in Harris and Collin Counties. Judge Andrea Beall held to the previously agreed upon April trial date and dismissed Paxton’s motion to dismiss the case, a turn of events that Cogdell deemed predictable.

In a twist, Kent Schaffer, co-counsel for the prosecution, exited the case on Friday, Wice attributed his departure to "a legitimate disagreement" over consideration of pre-trial intervention, which would have potentially allowed Paxton to resolve the case without a guilty plea. "Without an acknowledgement of guilt, to me, that was worse than a slap on the wrist," Wice stated, as per the Houston Chronicle. Replacing Schaffer is criminal defense attorney Jed Silverman, who will step in as a special prosecutor.

Meanwhile, Nexstar's Concho Valley Homepage reported that the trial is currently slated for April 15. Paxton, who was indicted by a Collin County grand jury shortly after his election to office in 2015, faces two counts of securities fraud and one count of failing to register with state securities regulators. The saga persists as Texas politics waits with bated breath for the outcome of this long-winding judicial scrutiny.