Tag: insider trading
Texas Attorney General Ken Paxton

Indicted For Securities Fraud, Attorney General Is Asking Texans To Reelect Him

Reprinted with permission from American Independent

Ken Paxton, the Republican attorney general of Texas, is under indictment for insider trading and is being investigated for political corruption. Still, he said Tuesday, he is fully planning to run for reelection next year.

After Texas Land Commissioner George P. Bush announced he is "seriously considering" a 2022 primary challenge to Paxton, the embattled incumbent confirmed on Tuesday that he is running for another term.

Paxton mocked Bush, the grandson of George H.W. Bush and son of former Florida Gov. Jeb Bush, on a Dallas radio show for running because he "hates being land commissioner" and sees the attorney general job as a stepping stone to running for president.

Paxton questioned whether Bush is qualified for the position of attorney general, saying, "He hasn't even proved himself in [his current job], let alone a job like this, which takes a lot of legal ability, which he" doesn't have.

But Paxton's own ability to follow the law has been very much in dispute since he was elected attorney general in 2014.

In July 2015, a Texas grand jury indicted him on two criminal charges of securities fraud and one of failing to register with the state as an investment adviser. He allegedly had offered to sell stock in a tech company without disclosing that he was being paid by that business.

"I am innocent of these charges," he claimed at the time. "It is a travesty that some would attempt to hijack our system of justice to achieve political ends they could not accomplish at the ballot box." The case has still not come to trial.

Last September, a group of senior Paxton staffers asked the federal government to investigate him for "improper influence, abuse of office, bribery and other potential criminal offenses." The whistleblowers pointed to allegations that Paxton had used his position to do special favors for Nate Paul, a real estate developer and a top donor to Paxton. The FBI is reportedly investigating Paxton's actions.

Days after the staffers came forward, Paxton released a statement decrying "false allegations" by "rogue employees."

By November, six of the whistleblowers had alleged retaliation by Paxton, and four of them had been fired from their positions.

On January 6, Paxton appeared at a rally near the White House and egged on Donald Trump supporters, telling them, "We're here. We will not quit fighting." After the crowd marched to the Capitol and rioted, Paxton falsely claimed the attackers were "not Trump supporters."

When news organizations requested copies of work-related messages and emails sent by Paxton while he was in Washington for the rally, Paxton refused to release them.

Last month, two former Paxton business partners successfully named him as a "responsible third party" in another unrelated securities fraud case. They say that in his role as a lawyer for a Texas company, Paxton "committed legal malpractice." He has not been charged with any crime in that matter.

A Paxton spokesperson did not immediately respond to an inquiry for this story.

Contrary to his assertions of great legal skill, Paxton has lost a lot of his cases as attorney general.

In 2016, the conservative Texas Supreme Court rejected his attempt to nullify the first same-sex marriage conducted in Texas. Paxton has consistently opposed equal treatment for LGBTQ people.

In December, he was behind a failed lawsuit to get the U.S. Supreme Court to throw out 2020 presidential electors for Joe Biden in four states and make Trump the winner of the election.

Republican Sen. Ben Sasse of Nebraska said in response, "From the brief, it looks like a fella begging for a pardon filed a PR stunt rather than a lawsuit — as all of its assertions have already been rejected by federal courts and Texas' own solicitor general isn't signing on."

Published with permission of The American Independent Foundation.

#EndorseThis: In Debate With Perdue, Ossoff Says 'It's Not Just That You're A Crook'

#EndorseThis: In Debate With Perdue, Ossoff Says 'It's Not Just That You're A Crook'

Have you been hoping someone would punish obnoxious racist Sen. David Perdue? Ever since he mockingly mispronounced the first name of Kamala Harris, millions of Americans have awaited the Georgia Republican's comeuppance.

Last night his Democratic opponent Jon Ossoff faced Perdue in debate – and made a big, loud down payment on what the world owes him.

Answering the Republican's hackneyed charge that he wants to impose "a radical socialist agenda," Ossoff reminded Georgia voters how and why their senator came under federal investigation – and then unloaded on him.

"Perhaps Senator Perdue would have been able to respond properly to the Covid-19 pandemic," said the Democrat, turning toward him, "if you hadn't been fending off multiple federal investigations for insider trading." While insisting last winter that coronavirus was no worse than the flu, Perdue was profiting from scores of stock trades that indicated awareness of the imminent pandemic and the economic upheaval it would bring.

"It's not just that you're a crook," continued Ossoff. "It's that you're attacking the health of the people that you represent." That moment of unvarnished truth went viral, gaining over three million views; it was, as one observer noted, "the most West Wing moment I've ever seen in real life." The look on Perdue's face as he stands stiff and silent is an indictment of himself.

Recent polls show Ossoff drawing even with Perdue, so perhaps in this election he'll be able to give the incumbent what he truly deserves: early retirement.





Senator Richard Burr (R-NC)

Sen. Burr Gives Up Intel Committee Chair As FBI Probe Intensifies

Reprinted with permission from ProPublica.

Sen. Richard Burr will be stepping aside as chairman of the Senate Intelligence Committee during the investigation into his stock trades, Senate Majority Leader Mitch McConnell announced Thursday.

“Senator Burr contacted me this morning to inform me of his decision," McConnell wrote in a statement. “We agreed that this decision would be in the best interests of the committee and will be effective at the end of the day tomorrow."

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Kelly Loeffler

Sen. Loeffler Claims Criticism Of Insider Trading Is ’Socialist Attack’

Sen. Kelly Loeffler (R-GA) appeared on Fox News Friday morning and claimed criticism of questionable stock sales she made were a "socialist attack" against her.

Loeffler and her husband, Jeffrey Sprecher, made the sales following a private Jan. 24 congressional briefing about the looming coronavirus crisis, prompting allegations of insider trading, which she has denied. Sprecher is chairman and CEO of Intercontinental Exchange, the company that owns the New York Stock Exchange.

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