Nate Paul Pleads Guilty in Federal Fraud Case

Austin real estate developer Nate Paul has pleaded guilty to making false statements to a financial institution, closing an 18-month federal case involving allegations of bank and wire fraud. Paul admitted to falsifying information to secure over $172 million in loans, which originally could have resulted in a decades-long prison sentence. The plea deal proposes a maximum six-month prison term, five years of supervised release, and up to a $1 million fine, while dismissing 11 other charges. This case gained attention when it was linked to the impeachment proceedings against Texas Attorney General Ken Paxton, who Paul allegedly assisted. Previously a prominent figure in Austin's real estate scene with properties valued at $1 billion, Paul's empire began to crumble after a 2019 FBI raid. The plea bargain marks a significant decline from his once high-profile status in the industry.