Austin developer Nate Paul, at center of Ken Paxton scandal, to be arraigned at 11 a.m. Friday

9:30 a.m. Friday update: Austin real estate developer Nate Paul, who is at the center of Texas Attorney General Ken Paxton's impeachment, will be arraigned on federal charges at 11 a.m. Friday in Austin, according to the court clerk's office.

The arraignment, scheduled before Magistrate Judge Dustin Howell, will shed light on what charges Paul is facing after his arrest Thursday afternoon. After the arraignment, the clerk's office says it will make public the indictment that lays out the FBI's case against Paul.

UPDATE: Austin developer, Ken Paxton associate Nate Paul charged with eight federal financial crimes

Paul, 36, is a Paxton associate who has been accused of providing benefits to Paxton in exchange for the attorney general intervening in numerous legal issues Paul was facing. However, it's unclear if this indictment touches on the Paul-Paxton relationship or relates to a separate investigation that federal investigators launched in 2019 into Paul and his company.

Austin lawyer Gerry Morris said he will be in court with Paul on Friday but does not know who will represent Paul going forward.

Thursday: Nate Paul, the Austin real estate developer at the center of a federal investigation into Texas Attorney General Ken Paxton, is being held at the Travis County jail and facing federal criminal charges.

According to jail records, Paul, 36, was booked at 4:25 p.m. Thursday. The arresting agency is listed as the FBI. The charges he faces were not immediately known.

Paul and his World Class company have been under investigation since 2019, a year before federal investigators opened an investigation into Paxton in connection with his relationship with Paul. The basis for the initial Paul investigation is unclear. The Paxton investigation was triggered by a complaint from former lawyers in the attorney general’s office who alleged Paxton misused his office to intervene in legal matters involving Paul.

The Paxton-Paul connection was a partial basis for a Texas House investigation that led to Paxton’s impeachment on May 27. Paxton, suspended from office without pay, now awaits a trial in the Senate, where Paul has the potential to be a witness.

Nate Paul, bribery & whistleblowers: Breaking down the investigation into Texas AG Ken Paxton

Paul has been entangled in numerous bankruptcy proceedings and legal battles with his debtholders in recent years, and he has lost a number of high-profile properties — including the 3M campus in far Northwest Austin — as a result.

Earlier this year, a Travis County judge found Paul in contempt of court and ordered him to serve 10 days. Judge Jan Soifer fined him $181,760 for violating court orders, including making illegal transfers from bank accounts — allegations that Paul denies. However, two appeals courts temporarily stayed the ruling and Paul avoided going to jail.

This is a developing story; check back for details.

This article originally appeared on Austin American-Statesman: Ken Paxton associate Nate Paul to be arraigned at 11 a.m. Friday