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McKINNEY (CBS11) – State Attorney General Ken Paxton engaged in criminal fraud, received illegal payment and knowingly violated state law, according to signed indictments from the Collin County Grand Jury.

Paxton turned himself into authorities Monday morning in McKinney, but has yet to make any public statement regarding his arrest.

Paxton faces three indictments, including securities fraud. The 52-year-old is the state’s top prosecutor and legal adviser. Paxton was elected to the position last year.

According to released indictments, in July of 2011, Paxton purposely did not disclose required information to two buyers of Servergy, Inc stock. The indictment states Paxton sold $100,000 of stock to each man, without disclosing a payment arrangement that netted Paxton 100,000 shares of Servergy Inc, stock. Servergy Inc is a McKinney software company.

Late Monday afternoon, Paxton attorney Joe Kendall issued a statement, saying AG Paxton will plead not guilty to the charges, and demand a trial by jury. “The Attorney General is returning to Austin to focus on his work on behalf of the citizens of Texas.”

A group of Democrats organized through Dallas and Collin County party organizations, protested outside the Collin County Courthouse after Paxton quietly posted bond and was released.
“He needs to go,” chanted attendees of the protest.

Dallas County Republican Party chairman Wade Emmert said today the charges against Paxton are “serious”, yet he does not believe the Attorney General should resign. “Allow the process to work itself out first”, Emmert said.

“Democrats calling for him (Paxton) to resign without calling John Wiley Price to do the same are hypocrites”, Emmert said.

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