N
ate Paul, a prominent Austin real estate investor and founder of World Class Holdings, is facing a 10-day jail sentence after being found in contempt of court. A judge ruled that Paul had violated an injunction by allegedly committing perjury and withholding financial details, despite efforts to appeal the decision to the Texas Supreme Court and federal courts.
The contempt ruling stems from a long-standing dispute between Paul and the Mitte Foundation, which accused him of mishandling investment dealings. The controversy has also drawn attention due to Paul's connection with Texas Attorney General Ken Paxton, who was impeached over allegations that he used his office to aid Paul in the dispute.
Paul faces additional federal charges for wire and bank fraud, carrying potential prison sentences of up to 20 years for wire fraud and up to 30 years for bank fraud. His trial is scheduled for February. This is not Paul's first run-in with the law; he was previously sued by NBA player Avery Bradley over an investment deal gone wrong.
