Attorney General Paxton could face first-degree felony case

A special prosecutor says he plans to present a North Texas grand jury with evidence of first-degree felony securities fraud against Texas Attorney General Ken Paxton. Kent Schaffer says he plans to present the evidence to a Collin County grand jury within the next few weeks.

Schaffer says the Texas Rangers uncovered new evidence during its investigation of allegations that Paxton broke state securities laws. Schaffer says the new allegations involve amounts well in excess of $100,000.

A Paxton spokesman issued a statement called the investigation a "political hit-job" but Schaffer and another special prosecutor, Brian Wice, says that statement ignores the facts of the case.

In their own statement issued Thursday, Schaffer and Wice responded to Paxton spokesman Anthony Holm's statement that they were trying the case in the news media.

Holm warns Schaffer's comments may influence the grand jury's decision.

First-degree felonies are punishable by up to life in prison.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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