Feds File Eight Felony Charges Against Developer Who Allegedly Bribed Texas AG, $172M In Restitution Sought

An update on this morning’s news via The Texas Tribune:

Nate Paul, the Austin real estate investor central to allegations of illegal conduct by suspended Attorney General Ken Paxton, has been charged with eight counts of making false statements to financial institutions. Paul, 36, allegedly overstated his assets and understated his liabilities to fraudulently obtain loans, according to a 23-page indictment filed by federal prosecutors Friday. The government is seeking $172 million in restitution from Paul.

U.S. Magistrate Judge Dustin Howell laid out the charges — which focus on actions Paul took in 2017 and 2018 to allegedly mislead mortgage lenders and credit unions — Friday morning to ensure Paul understood them. Paxton was not mentioned in the indictment, nor was he discussed during a proceeding Friday in Austin’s federal courthouse, where Paul appeared shackled and wearing a blue button-down shirt, jeans and white Air Jordans.

Read the full article.

As has been widely reported, Nate Paul allegedly remodeled Paxton’s home and gave Paxton’s mistress a job in return for political favors. Both claims featured in Paxton’s impeachment last month by the Texas House.

Breaking: Nate Paul, the Austin real estate investor who was a central figure in allegations that led the Texas House to impeach Attorney General Ken Paxton last month, has been charged with eight counts of making false statements to financial institutions.https://t.co/Jb0mLUF9UZ

— Texas Tribune (@TexasTribune) June 9, 2023