Nate Paul, close associate of Texas Attorney General Ken Paxton, faces eight felony counts

Nate Paul, a real estate investor and close associate of impeached Texas Attorney General Ken Paxton, has been charged with eight felony counts of financial crimes.

The 23-page federal indictment accuses Paul of making false statements to mortgage lenders and credit unions to secure business loans. The court filing indicates the alleged financial crimes occurred in 2017 and 2018.

His relationship with Paxton is a key focus of impeachment articles brought against the embattled attorney general last month, CNN has reported.

Paul's attorney, Gerry Morris, declined to comment on the charges to CNN.

Paxton, who is also facing an FBI investigation, is not named in the indictment unsealed Friday morning.

"The charges against Paul evidently have nothing to do with Attorney General Ken Paxton. Nothing whatsoever. That should speak volumes as to how weak this impeachment effort is," said Tony Buzbee, who is representing Paxton in the impeachment.

However, another of Paxton's attorneys, Dan Cogdell, told the Dallas Morning News the criminal charges filed against Paul could be part of a strategy to get the real estate developer at the center of the impeachment case against Paxton to testify against the attorney general.