Reports: Texas Attorney General Ken Paxton indicted

Texas Attorney General Ken Paxton appears before the Senate Health and Human Services Committee on July 29, 2015. On Saturday, Aug. 1, two television stations reported Paxton was indicted on three charges. Texas Attorney General Ken Paxton appears before the Senate Health and Human Services Committee on July 29, 2015. On Saturday, Aug. 1, two television stations reported Paxton was indicted on three charges. Photo: Tom Reel, File Photo Photo: Tom Reel, File Photo Image 1 of / 17 Caption Close Reports: Texas Attorney General Ken Paxton indicted 1 / 17 Back to Gallery

AUSTIN - Attorney General Ken Paxton was indicted Tuesday on three charges, two television stations reported Saturday.

No further details were immediately available about the nature of the charges, but special prosecutors said earlier this month they would seek a first-degree felony indictment against Paxton for violating state securities laws.

The indictment, which was sealed when it was handed down Tuesday, will be unsealed Monday, the reports added. A Tarrant County judge was also appointed to hear the case, which will likely go to trial, sources said.

Special prosecutor Brian Wice on Saturday did not comment on the news reports. Neither his co-special prosecutor Kent Schaffer nor Paxton's spokesman could be reached for comment.

Earlier this month, Schaffer said he believed they had "substantial evidence" to secure a first-degree felony fraud indictment from the grand jury. He said the amount of money involved in the case he and Wice planned to present was "substantially higher than $100,000."

Securities fraud violations above that amount are first-degree felonies under state law. If convicted, Paxton could face a sentence of five years to life in prison and a fine of not more than $10,000. He does not have to step down as attorney general, however, and can continue to serve during the trial process.

The case traces back to the 2014 election season, when Paxton was fined $1,000 and reprimanded after he admitted to repeatedly soliciting clients for a friend's investment firm without being properly registered with the state.

A criminal complaint later was filed against Paxton in Travis County, but prosecutors there said they lacked jurisdiction and referred the complaint to Collin County.