Real estate developer Nate Paul, a pivotal figure in the scandal that led to the historic impeachment of Ken Paxton, has been formally indicted on eight counts of making false statements. Notably, the government is looking for $172 million in restitution from Paul.
During Paul’s (36) initial court appearance in federal court in Austin on Friday, U.S. Magistrate Judge Dustin M. Howell announced that Paul has been charged with eight counts of financial crimes. The charges stem from allegations that Paul engaged in the act of making false statements to mortgage lenders and credit unions. It is alleged that these false statements were made with the intention of inflating his assets and minimizing liabilities, all in an effort to secure loans for his businesses.
Paul will be released today, on the condition that he surrender his passport and leave Texas only after notifying the court.
Paxton, who is also under federal investigation, was not mentioned during Paul’s indictment. However, according to The Dallas Morning News, the attorney general’s defense attorney said on Thursday that he believes the FBI will try to flip Paul against Paxton.
The FBI initially searched Nate Paul’s troubled real estate empire, including his Austin offices and luxurious residence, in 2019. The following year, eight of Paxton’s top deputies reported the attorney general to the FBI, accusing him of bribery and abuse of office. These allegations stemmed from Paxton’s involvement in hiring an external...
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