A leaked 2014 deposition shows Ken Paxton, then Texas attorney general-elect, telling SEC lawyers that a donor gave him stocks "to please God" while he was under investigation for securities fraud tied to Servergy Inc. Paxton invested over $400,000 in various ventures but admitted he could not locate stock certificates worth $200,000, saying, "I'm so busy, I don't always keep track of this kind of stuff." He used "I don't remember" or "I don't recall" more than 200 times and deflected questions to his wife Angela, who prepared his tax returns. The SEC later brought civil fraud charges that were dismissed; a 2015 state indictment ended in a 2024 deal with no admission of wrongdoing. Paxton's reported fortune has grown to up to $23 million, including 15 properties across six states, a cellphone tower, and mutual funds — all on a government salary.
His Senate opponent James Talarico has made the wealth a campaign issue. Senior adviser Nick Maddux called the deposition release a political distraction weeks before Election Day.
Source: New York Times Top Stories · Summarized by HeadlinesBriefing