Tuesday, December 19, 2017

Paxton case continues to collapse (likewise the descent into farce)

"And let us not grow weary while doing good, for in due season we shall reap if we do not lose heart."
Galatians 6:9

LOL (via the DMN):
Attorney General Ken Paxton, who's still battling securities fraud indictments as he enters re-election year, may just have picked up a new tool to fight the felony charges against him.

For the third time in two years, the federal government has failed to prove investors were willfully swindled into backing a little-known tech startup called Servergy, Inc. The first two times, it was Paxton who was cleared of civil fraud charges brought by the U.S. Securities and Exchange Commission.

Now, Servergy founder and former chief executive officer William Mapp III has also been acquitted of intentionally defrauding investors. Last week, a federal jury cleared him on six of seven claims, finding him guilty on one count of negligence.

The Mapp verdict doesn't have a direct or immediate legal effect on Paxton's criminal charges, experts said, but it could help the attorney general as he heads to trial next year. How could Paxton have duped anyone, his lawyers may argue, if the federal government couldn't prove Servergy's own founder intentionally defrauded his investors?

"It is an uphill climb for the prosecutors," said John Teakell, a Dallas attorney who has served as senior trial counsel for the SEC. "Can they prove that he knowingly misrepresented something or knowingly mislead someone?

"They got their work cut out for them."
We now go live to the special prosecutors:

Bottom Line: We've known for over a year that there's been no underlying crime committed by Paxton, but this latest round of acquittals illustrates just how silly this case has become.

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