Who is Nate Paul? Real Estate investor charged in wake of Ken Paxton's impeachment

On Friday, June 9, 36-year-old Texas real estate investor Nate Paul was arrested in relation to the impeachment of Texas Attorney General Ken Paxton. Paxton, a member of the Republican party, was accused of accepting bribes and misusing his power to bolster Paul's real estate empire. Paul was taken into custody at 4:25 pm.

The alleged illegal dealings between Nate Paul and Ken Paxton officially came to light on May 27, 2023. The Texas Attorney General is currently suspended while the case is pending investigation.

Paxton has claimed his innocence, describing the impeachment as a scheme engineered by his political rivals. The impeachment committee is comprised of 12 representatives, including seven Republicans and five Democrats.

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Nate Paul is the founder of the World Class Capital Group

As per his LinkedIn profile, real estate investor Nate Paul is the founder, President, and CEO of the World Class Capital Group, an organization involved in real estate, investments.

An alumni of The University of Texas at Austin, he started the World Class group in 2007. In 2019, he founded NowSpace, a company that designs workspaces. Paul has business interests in Austin, Los Angeles, and New York.

According to Texas officials, Nate Paul's name was officially mentioned in relation to Ken Paxton's impeachment on May 25, 2023. As per Texas Tribune, Paul reportedly overstated his assets and understated liabilities in order to secure loans. Paul has been charged with eight counts of making false statements to financial institutions.

The indictment read:

“On three occasions, Paul gave a financial institution a false and counterfeit document, representing that one of Paul’s bank accounts held millions of dollars when in fact the balance of the account was less than $13,000."

While prosecutors claimed that Paul may have been emboldened to carry out these illegal activities due to his connections to Ken Paxton, the latter's attorneys have denied that the charges are related to the Texas Republican.

Paul was a known donor of Paxton's campaign, having provided $25,000 in funds to Paxton in 2018.

Paxton's lawyer, Tony Buzbee, said:

“The charges against Paul evidently have nothing to do with Attorney General Ken Paxton. Nothing whatsoever. That should speak volumes as to how weak this impeachment effort is.”

Paxton was also accused of preventing the Mitte Foundation, an Austin-based non-profit organization, from filing a lawsuit against Paul. The Mitte Foundation sought to take Paul to court after he supposedly refused to share financial statements about various joint ventures they had together.

The impeachment documents stated that as a member of Office, Paxton was obligated to aid the non-profit, but refused to do so. Paxton was accused of directing his office to obstruct the lawsuit.

The cases against Paul and Paxton are currently ongoing.