Clock is ticking for possible indictment of Attorney General Ken Paxton
A lingering question in the legal troubles of Attorney General Ken Paxton is how much time remains on the three-year prosecutorial statute of limitations for his acknowledged state securities violations. Paxton has admitted in writing and paid an administrative fine for failing to register with the state before accepting commissions on client referrals he made for McKinney investment adviser Frederick “Fritz” Mowery.
The violations carry the possibility of criminal prosecution, provided an indictment is handed down before the statute of limitations expires. Attorney Ty Clevenger has dug into this question and determined that the deadline could be as soon as June 14, three years to the day that Paxton recruited his last client for Mowery without being registered as required by law.
The violation was inexcusable for Paxton, not just because he is an attorney and understands that ignorance of the law is not excuse, but also because, as a state legislator, Paxton helped pass the law that made such violations a crime.
Clevenger has posted online a 1,067-page transcript of hearings conducted by the State Securities Board into Mowery Capital Management LLC, which includes detailed questions about Paxton’s role in steering clients to Mowery. I’m amazed that Clevenger managed to stay awake all the way to page 285 of the transcript, where Mowery testifies about one particular set of clients who apparently were asked in 2014 to sign a backdated document declaring that they had been advised on June 14, 2012, that Paxton was collecting a fee for sending clients to Mowery.
Read more: http://dallasmorningviewsblog.dallasnews.com/2015/06/clock-is-ticking-for-possible-indictment-of-attorney-general-ken-paxton.html/
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