Real estate investor Nate Paul seeks third trial delay

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AUSTIN (KXAN) -- Real estate investor Nate Paul is seeking to push his federal bank and wire fraud trial four months past its current November start date. Paul’s attorneys say millions of documents they need to review are being provided later than expected, and they need additional time, according to a motion for continuance filed June 18.

Paul’s trial is currently set to begin Nov. 6, 2024, but the defense team wants that moved to March 17, 2025. Both sides will meet for a hearing on the continuance request on Tuesday.

Paul’s lawyers said the current trial date was set when they anticipated beginning their review of 4.4 million documents in early May. Now, May has passed, the review hasn’t begun and Paul’s attorneys say they won’t be able to begin that process until August, according to their motion.

Under the current time constraints, it would be an “impossible feat” to review all the documents and prepare for trial in time, according to Paul’s motion.

“The defense cannot possibly conduct the necessary review and be prepared to defend this complicated case by November 6, given this updated timeline,” Paul’s defense said in the motion. “A little more than two months (mid to late August to November 6) is not sufficient time to review the 4.4 million document database and integrate the fruits of that review into our trial preparation.”

Paul’s attorneys said seven months of prep time would still be “an aggressive timeline,” according to the motion. Paul, 37, has pleaded not guilty to all counts.

Prosecutors said they “oppose any continuance beyond what may be absolutely necessary for the preparation of Mr. Paul’s defense,” according to a government response noted in Paul’s motion.

Federal officials first charged Paul in June 2023 with eight counts of making false statements or reports to lending institutions. In November 2023, federal officials tacked on three counts of wire fraud and one count of conspiracy to commit wire fraud to the list of charges, according to a superseding indictment.

The federal charges against Paul are tied to his work as the head of World Class Holding – a real estate investment firm with assets across Austin and beyond, according to media reports.

In the bank fraud counts, Paul is accused of providing false information and statements to multiple banks to obtain $172 million in loans, according to court records.

Regarding the wire fraud counts, federal officials accuse Paul of making false statements to partners involved in limited partnerships and wrongfully removing money for other uses, according to charging documents.

Each of the eight initial bank fraud charges carry a maximum penalty of 30 years and a fine of $1 million. The wire fraud charges have a maximum penalty of 20 years in prison and $250,000 each, according to the U.S. Department of Justice.

Speed bumps on way to trial

Paul’s trial date has already been pushed twice. It was originally scheduled for August 2023 and moved to July 2024, according to court records.

In February, Paul’s lawyers asked Senior U.S. District Judge David Ezra for more time, and the trial was moved to again to November 2024.

Paul was linked to allegations against Texas Attorney General Ken Paxton that played a significant role in Paxton’s high-profile impeachment. Top officials in the attorney general’s office accused Paxton of abusing his power to help Paul, who donated to Paxton’s campaign.

The federal counts against Paul are unrelated to Paxton, who was acquitted by the Texas Senate in September 2023 of all the articles of impeachment he faced at trial.

Paxton remains in a legal battle with whistleblowers over a wrongful termination lawsuit.