Texas Attorney General Ken Paxton has been indicted on felony securities fraud charges. Democrats have called for Paxton to resign while Republicans have said that the process should be left to play out. As the Texas Tribune reported, an indictment is not a finding of guilt and Paxton is not obligated to resign.

Paxton faces three counts: two for securities fraud, and another for acting as an investment advisor or representative without registering.

The indictments were unsealed Monday. They allege that Paxton offered to sell two people more than $100,000 worth of stock in a McKinney technology company, but didn’t disclose that the company was compensating him.

Paxton also didn’t make clear that he hadn’t personally invested in the company, the indictments allege. He received 100,000 shares, but that was in the form of compensation, according to the indictment.

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