Austin real estate investor Nate Paul, known for his affiliation with Attorney General Ken Paxton, has been charged with additional crimes by federal prosecutors. The U.S. attorney for the Western District of Texas recently filed an amended indictment, accusing Paul of four counts of wire fraud related to allegations of deception involving investments in his company, World Class Holdings, and its affiliates.

These new charges come in addition to the eight felony counts filed in June, which accuse Paul of providing false information to financial institutions in order to secure loans for property acquisitions. Paul, who is the CEO of World Class, now faces a total of 12 charges in the legal proceedings against him.

The trial for Nate Paul is set to take place in July of 2024. Notably, the indictments do not mention Ken Paxton, who was previously acquitted of 16 articles of impeachment in September. However, Paxton's friendship with Paul has remained under scrutiny following allegations of corruption and bribery.

The origins of the relationship between Paul and Paxton are unclear. Last year, seven former senior aides to Paxton reported their concerns to the FBI, alleging that Paxton had used his position to assist Paul in investigating business rivals, delaying foreclosure sales of his properties, and obtaining confidential records on police investigations into himself.

During this period, Paul's business empire, which he claimed to be worth $1 billion, faced financial troubles. In 2020 alone, 18 of his properties filed for bankruptcy. The whistleblowers' claims formed the basis for the Texas House's decision to impeach Paxton in May, with allegations that Paul had paid for home renovations for the attorney general and helped him conceal an extramarital affair with a former Senate staffer.

Furthermore, Paul remains under investigation by the FBI, which began in 2020. The government is seeking to seize $172 million and any properties linked to Paul's alleged criminal conduct. However, it is unclear whether Paul is cooperating with prosecutors in the investigation into Paxton.

According to the amended indictment, Paul repeatedly misled his business partners regarding the use of partnership funds, resulting in financial losses for several entities. The indictment names six businesses as victims, including three in Texas, and one each in Florida, Colorado, and North Carolina.

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