A real estate spending spree by Texas Attorney General Ken Paxton is under investigation as he awaits his impeachment trial.
Paxton and his wife, Republican state Sen. Angela Paxton, spent nearly $3.5 million on six properties around the United States over a 10 month stretch, from July 2021 to April 2022, the Wall Street Journal reported.
Prosecutors are looking into the purchases as part of an ongoing investigation, as Texas House members voted to impeach Paxton last month. He allegedly accepted bribes from Austin real estate investor Nate Paul, abused his power and committed several other wrong doings throughout his tenure. The attorney general faces 20 charges all together.
The Paxtons’ purchases include a $1.6 million lodge in Oklahoma, three residences in Florida, land in a Utah ski town and a property in Maui, Hawaii. The acquisitions caused suspicion among investigators given the timeline and costs.
Paxton made $153,750 a year as attorney general, while his wife, a longtime high school math teacher, earns $7,200 a year as a state senator, plus per-diem payments when the Texas Legislature is in session.
Paxton’s attorney, Tony Buzbee, defended the buying spree.
“General Paxton decided to direct much of his long-term savings from a brokerage account to real estate,” Buzbee told the outlet. “He did so at a time with low interest rates, believing it was a better long-term investment to provide for his family. There is nothing more to it than that.”
The Paxtons’ annual financial disclosures show they have an abundance of assets, stemming from investments in numerous mutual funds and four properties they own in Texas.
They paid cash for some of the recent purchases, while others were partly financed. They took out roughly $1.6 million in additional mortgages secured by the new properties, the outlet said.
The Esther Blind Trust kickstarted the buying spree, as it was used to pay $315,000 for land in Eden, Utah. A few months later, the trust paid $410,000 in cash for land in a resort town on Maui.
The Texas Senate is scheduled to hold Paxton’s impeachment trial in September. The attorney general is currently suspended without pay.
—Quinn Donoghue
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