Republican Texas Attorney General Ken Paxton turned himself in at the Collin County Jail Monday morning after being charged with felony securities fraud.

After being driven to the jail, Paxton was fingerprinted, photographed, booked and released on personal recognizance bonds. He is accused of misleading investors of more than $100,000 in a tech startup, including a state legislature, before he took office in January.

As a result, he faces two first-degree felonies for securities fraud and a third-degree felony for failing to register with the state to sell securities. According to the indictments, Paxton allegedly engaged in this conduct while he was serving in the state legislature.

The most serious allegation is that he encouraged investment in Servergy, a McKinney-based company that is currently under investigation by the Securities and Exchange Commission, reports The Guardian. The failure to register charge relates to accusations that he referred clients to his friend and campaign donor Fritz Mowery without telling them that in return he received getting hefty commissions from the McKinney investment advisor.

Paxton's lawyer, Joe Kendall, released a statement Monday afternoon saying that his client plans to plead not guilty to the three felony indictments.

"Attorney General Ken Paxton will plead not guilty to these accusations and he will demand a trial by jury. He is looking forward to the opportunity to tell his side of the story," reads the statement, according to ABC affiliate WFAA. "In the meantime, the Attorney General is returning to Austin to focus on his work on behalf of the citizens of Texas."

If convicted, Paxton faces up to 99 years in prison for the first-degree securities fraud charge, while the third-degree charge carries a maximum sentence of 10 years behind bars. Paxton would also lose his law license and be forced to resign from his position as attorney general.

Republican Texas Gov. Gregg Abott issued a statement on the matter, saying, "Everyone is entitled to due process under the law. As a former judge, I recognize this is the first step in a lengthy process and will respect that process as it moves forward."