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May 5, 2021      2:35 PM

DMN: AG Paxton roped into securities fraud debacle between financial advisor, ex-partners

From the scoop by Dallas Morning News reporter Lauren McGaughy

Two former business partners have successfully pulled Ken Paxton into yet another securities fraud dispute, adding to the attorney general’s mounting legal problems. The case dates to 2016, when the man who oversees Paxton’s financial assets accused a company called Unity Resources and two of its investors of defrauding him. The two men denied the allegations and pointed the finger back at Paxton, arguing he was responsible because he too was an investor and served as the company’s lawyer.

Last week, the Fifth Court of Appeals in Dallas agreed with the two men that Paxton could be named a “responsible third party” in the suit. The 11-1 opinion by the Democrat-dominated court reversed its previous decision that initially found Paxton could not be added to the case.

Full story here.

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