FBI agents arrested Austin real estate developer Natin “Nate” Paul on Thursday afternoon federal charges. Paul is currently a central figure in the pending impeachment trial of suspended Texas Attorney General Ken Paxton.
UPDATE: 12:30 a.m.: Nate Paul appeared before U.S. Magistrate Judge Dustin Howell in Austin on Friday morning. He is accused of exaggerating the value of his assets, including telling credit unions and mortgage companies he had more money than he actually did.
In one charge, according to an indictment obtained by Breitbart Texas (attached below), Nate told a credit union he had $31.6 million in cash in a bank account. However, the account had only $500,000 in cash at the time and the remainder of his assets were in securities, the document states.
He also allegedly underreported his liabilities by about $28.6 million.
The 23-page indictment includes eight counts related to making false statements to financial institutions.
Following a 30-minute hearing, Paul was released to go home without entering a plea.
Original Story Continues:
Travis County jail records obtained by Breitbart Texas indicate that FBI agents booked 36-year-old Natin Paul into the jail at 4:25 p.m. on Thursday. No charges are listed and a bond has not been set, according to the jail record.
Nate Paul is currently a central figure in the pending impeachment trial of AG Paxton. Paul is named in several of the articles of impeachment approved by the Texas House of Representatives, Breitbart Texas reported. Following the impeachment, Paxton was suspended from his elected position as attorney general as required by the Texas Constitution.
The Associated Press reported the following background information:
Paul’s arrest followed a yearslong federal investigation into the Austin real estate developer — a probe that Paxton involved his office in, setting off a chain of events that ultimately led to his impeachment last month.
FBI agents examining Paul’s troubled real estate empire searched his Austin offices and palatial home in 2019. The next year, eight of Paxton ’s top deputies reported the attorney general to the FBI on allegations of bribery and abusing his office to help Paul, including by hiring an outside lawyer to examine the developer’s claims of wrongdoing by federal agents.
The allegations by Paxton’s staff prompted an FBI investigation, which remains ongoing, and are central to articles of impeachment overwhelmingly approved by the GOP-led state House of Representatives.
Texas House impeachment managers announced on June 1, the appointment of famed criminal defense attorneys Dick DeGuerin and Rusty Hardin to lead the prosecution of the impeachment trial, the Texas Tribune reported.
One day earlier, Texas Governor Greg Abbott appointed and swore in Mr. John Scott, former Texas Secretary of State, to serve as acting attorney general until the conclusion of the Senate trial, Breitbart reported.
It is not clear at this time if Paul’s arrest will lead to a federal indictment or criminal complaint against Mr. Paxton.
Bob Price serves as associate editor and senior news contributor for the Breitbart Texas-Border team. He is an original member of the Breitbart Texas team. Price is a regular panelist on Fox 26 Houston’s What’s Your Point? Sunday-morning talk show. Follow him on Twitter @BobPriceBBTX.