Head of World Class Holdings could face six months in federal prison and a $1 million fine for lying to lenders.

The former Austin real estate developer faces up to six years in prison. He will be sentenced in the coming weeks.

Nate Paul was the chief of World Class Holdings, a company with myriad sub-businesses and, at one point, over $1 billion in assets across 17 states, according to a Forbes report.

AUSTIN — Real estate investor Nate Paul, whose ties to Attorney General Ken Paxton led to impeachment charges in 2023, pleaded guilty in federal court to one count of making a false statement to a financial institution.

Nate Paul's lawyers are arguing two motions in federal court that could have a major impact on his bank and wire fraud case.

The government recommended Nate Paul receive a maximum of six months in prison and five more years of supervised release as well as a fine of up to $1M.

Nate Paul's defense team is arguing two motions in federal court to dismiss the dozen counts against him and to split the counts into two separate cases, which could have a major impact on the bank and wire fraud case.

Real estate developer Nate Paul, who was at the center of claims in Paxton's whistleblower lawsuit and ensuing impeachment, pleaded guilty to a federal financial crime and could face six months in prison.