Paxton associate Nate Paul indicted on four additional federal charges

Federal prosecutors announced that Austin real estate developer Nate Paul has been indicted on four additional charges of wire fraud related to his business dealings.

The U.S. Department of Justice (DOJ) announced the superseding indictment in a news release on Wednesday morning. The new charges include three wire fraud charges and one count of conspiracy to commit wire fraud.

A grand jury indicted the 36-year-old businessman last summer on eight counts of lying to financial institutions, charges that could each result in a prison sentence of up to 30 years and a fine of up to $1 million.

Prosecutors indicated that the new charges each carry a possible sentence of up to 20 years in prison and a quarter-million dollar fine.

The DOJ stated that Paul “allegedly conspired to obtain money from limited partners by falsely representing that he would isolate the partnership’s assets to be used exclusively for the benefit of the partnership.”

“The superseding indictment alleges that Paul’s scheme allowed unrestricted use of limited partnership funds,” the news release noted.

Attorney General Ken Paxton’s association with Paul was the subject of many of the Texas House of Representatives’ unsuccessful articles of impeachment against Paxton. The Texas Senate acquitted the attorney general on charges that he accepted bribes from Paul in exchange for favorable treatment.

Paul donated $25,000 to Paxton’s re-election campaign in 2018.

While Paul’s trial was originally scheduled to take place in August just a few weeks before the impeachment trial, a federal judge agreed to reset the date for July 2024. According to federal court records, a status conference in the case is scheduled for December.

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