'There will never be a conviction in this case nor am I guilty': Ken Paxton reaches deal with prosecutors

A deal was reached on Tuesday in the case against Texas Attorney General Ken Paxton, in which he was indicted on two counts of first-degree securities fraud and one count of not registering.

The deal cut with federal prosecutors will see Paxton pay around $300,000 in restitution to terminate the charges that were brought against him nearly 10 years ago, according to Fox News.

"For over a decade, my family and I have been dealing with the ongoing stress of these accusations and are relieved to finally have a resolution in this matter," Paxton wrote. "The prosecution came to us to begin negotiations and we were able to come to an agreement on terms. There will never be a conviction in this case nor am I guilty."

"I look forward to putting this behind me," he added. "I want to thank my family, team, and supporters for sticking by my side. Dealing with a 10-year case looking over our heads was no easy task. I am glad to move on and will provide further comment in the weeks ahead."

Texas Lieutenant Governor Dan Patrick wrote that Paxton "has suffered 9 years of political harassment instigated at the hands of his enemies in the Texas House," adding that "The actions from the Court in Houston highlighted the lack of any real evidence – the prosecution was wise to save themselves the embarrassment of a courtroom defeat."

Patrick wrote that the case "bears a striking similarity to the impeachment debacle where Ken Paxton’s political enemies in the House fabricated a case that collapsed during trial in the Senate."

The deal came just weeks before Paxton was set to face trial on the charges, where he could have faced up to 99 years if found guilty.

Paxton was indicted in July of 2015 "on charges of allegedly misleading and defrauding wealthy tech startup investors and failing to disclose that the startup was paying him to promote its assets," Fox News reported.

He was also fined in 2014 for not disclosing that he was getting commissions for soliciting investors to Texas securities regulators.

Under the deal, Paxton will also be required to complete 100 hours of community service and 15 hours of legal education classes.

In September of 2023, Paxton was acquitted of impeachment charges brought against him. The Texas House had impeached him in May on articles that included disregard of official duty, misapplication of public resources, constitutional bribery, obstruction of justice, and false statements in official records.