Nate Paul declined a day in court.
The real estate investor, who’s been at the center of Texas Attorney General Ken Paxton’s impeachment, pleaded not guilty to charges of making false statements to lenders that gave him more than $170, the Associated Press reported.
Though his arraignment was scheduled for Friday, Paul waived his right to appear in person before a U.S. district judge in Austin and entered a not guilty plea. Paxton is not mentioned in Paul’s criminal case.
Paul allegedly lied to banks several times between March 2017 and April 2018 by sending them fraudulent financial statements, skewing his cash holdings in an effort to shrink the amount he owed. He faces eight counts of making false statements, equating to a maximum sentencing of 240 years in prison and $180 million in penalties.
The World Class Holdings CEO has been on a downward spiral since the FBI raided his home and business in 2019. A number of scandals and lawsuits against Paul ensued.
The Ken Paxton impeachment is one chapter of the real estate developer’s saga. Paxton was accused of accepting bribes from Paul in exchange for helping him through his various court cases.
The charges of false statements to lenders appeared to have no connection to the attorney general, but one of the banks later received a subpoena, issued by an attorney Paxton had hired as an “outside independent prosecutor” to pursue complaints Paul made following the FBI raid, the outlet reported.
Paxton has denied the allegations, and his impeachment trial is scheduled to begin Sept. 5
—Quinn Donoghue
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