Nate Paul, an Austin investor, faces a federal trial due to start on Aug. 14. He was indicted on eight counts of federal mortgage fraud.
The federal indictment alleges that in order to obtain up to $172 million in loans, Paul downplayed his liabilities and exaggerated his wealth.
Since his arrest earlier this month, Paul has been out on a federal bond. Per court orders, he has until July 28 to notify the court of any plea agreements.
Earlier on, Paul plead not guilty and waived his arraignment.
Paul is also at the center of allegations surrounding the suspended Texas Attorney General Ken Paxton. Paul’s relationship with Paxton was called into question by the whistleblowers. They made claims saying that Paxton could have aided Paul in the federal investigation and in return he received a home remodel and employment for his mistress.
These allegations played a role in Paxton’s impeachment from the Texas House in May. Paxton faces an impeachment trial due to start Sept.5, where Paul could be called as a witness.
Since Paul’s federal trial would be due to start only two months after his arrest, his lawyers could request a delay.