Natin Paul Now Facing Wire Fraud Charges in Superseding Indictment

AUSTIN, Texas – Federal prosecutors presented a superseding indictment in Austin, charging Natin Paul, aka Nate Paul, 36, with four new counts related to wire fraud.

According to court documents, Paul, allegedly conspired to obtain money from limited partners by falsely representing that he would isolate the partnership’s assets to be used exclusively for the benefit of the partnership. The superseding indictment alleges that Paul’s scheme allowed unrestricted use of limited partnership funds.

Adding to the initial eight counts of false statements to lenders, Paul is charged with one count of conspiracy to commit wire fraud and three counts of wire fraud. The new charges carry penalties of up to 20 years in prison with fines of $250,000 per count. Each of the eight counts in Paul’s initial June 6 indictment carries a maximum penalty of up to 30 years in prison with a fine of $1 million. A federal district court judge will determine any sentence after considering the U.S. Sentencing Guidelines and other statutory factors.

U.S. Attorney Jaime Esparza of the Western District of Texas made the announcement.

The FBI and State Securities Board are investigating the case.

Assistant U.S. Attorneys Robert Almonte, Alan Buie and Dan Guess are prosecuting the case.

An indictment is merely an allegation and all defendants are presumed innocent until proven guilty beyond a reasonable doubt in a court of law.

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