July 25, 2014 10:46 AM

Texans for Public Justice file criminal complaint against Ken Paxton

Civil agency settlement did not resolve criminal allegations

In what should be a surprise to no one, Texans for Public Justice announced today that they filed a criminal felony complaint against Republican Attorney General nominee Ken Paxton for admittedly failing to register as an investment advisor.

In addition, the complaint says, "The Texas Securities Act prohibits a person from acting as an investment adviser representative for an investment firm in Texas unless the person is registered as a representative for that particular firm. The Texas Securities Act provides that any person who renders services as an investment advisor representative without being registered as required by the Act is guilty of a felony of the third degree."

The full complaint can be found here.

Both sides of the partisan divide have been concerned that Paxton faces criminal liability and would not be replacable on the ballot should he be indicted.

By Harvey Kronberg