The Attorney General of Texas, Ken Paxton, was indicted on three charges earlier this week, NBC Dallas-Ft. Worth reported on Saturday.
The charges stem from an investigation about whether the Lone Star State's top law enforcement official, a Republican, acted as a financial professional without being licensed, the outlet added.
According to the report, the indictments were issued Tuesday, but could be unsealed as early as Monday in Texas' Collin County. A grand jury had been looking into whether Paxton committed a serious crime by acting as a broker without valid credentials.
Paxton reaped thousands of dollars for referring his private legals clients to a financial advisor, but did not inform them of the financial arrangement, local outlets have reported.
He eventually admitted he was unregistered and paid a fine, NBC Dallas/Fort Worth reported that he believed the sanction would resolve the dispute.
Anthony Holm, a representative for Paxton, did not immediately return a request for comment from CNBC.