Texas Attorney General Ken Paxton

Attorney General Ken Paxton

Attorney General Ken Paxton has been indicted on three counts of securities fraud by a Collin County grand jury.

The indictment came down Tuesday, July 28, when it was first reported two special prosecutors and the Texas Rangers had presented evidence to the grand jury.

The evidence was sealed following the decision but will be unsealed on Monday, when Paxton is expected to turn himself in.

The New York Times reports the indictments include two first-degree charges of securities fraud and a third degree charge of failure to register with the state securities board. If found guilty, Paxton could spend between five and 99 years in jail.

The indictment comes after a year Paxton admitted he violated state securities law for failing to register with the state securities board before soliciting clients and investors for two companies while serving in the legislature, for which he paid a $1,000 fine.

He was elected as attorney general in 2014.