The Pelosi family is once again under scrutiny after revelations surfaced about a controversial stock transaction made by Paul Pelosi, husband of former House Speaker Nancy Pelosi. The timing of the sale has raised serious questions about potential insider trading, as it occurred just weeks before the Biden administration hit Visa with a major antitrust lawsuit. The lawsuit, filed by the Department of Justice (DOJ) on Tuesday, accuses Visa of using its dominant position to stifle competition in the debit card market, a move that sent Visa’s stock price into a decline.
https://twitter.com/PelosiTracker_/status/1838369997342806452
According to the DOJ, Visa handles over 60% of the $4 trillion in annual debit transactions across the U.S. The lawsuit claims Visa engaged in monopolistic practices, such as penalizing merchants who sought alternative payment processors and paying off rivals to stay out of the debit market. It marks the first significant antitrust action by the Biden administration against a financial services company. Following the news, Visa’s stock price dropped by 2.12% in after-hours trading, cutting into the company’s gains for the year.
Public filings show that Paul Pelosi sold over $500,000 worth of Visa stock just before the DOJ’s lawsuit was announced. Critics argue that this timing is too suspicious to ignore, raising concerns that Pelosi may have had insider knowledge about the impending legal action against Visa. The sale of Visa stock isn’t new for the Pelosi family—Paul Pelosi has made similar transactions before, selling off Visa shares in 2022 and again in July 2024. These sales have repeatedly sparked accusations of conflicts of interest, given Nancy Pelosi’s position of power in Congress and her access to sensitive information.
https://twitter.com/PelosiTracker_/status/1808491044905926848
Nancy Pelosi has long denied any involvement or prior knowledge of her husband’s financial activities. A spokesperson for the congresswoman told *The New York Post*, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.” Still, skeptics remain unconvinced, pointing to the couple’s history of stock transactions and the potential for conflicts of interest.
Ron Geffner, a former SEC enforcement attorney, added fuel to the fire, saying, “At various critical inflection points in history, members of our government have engaged in trading at a time when their conflicts are called into question.”
The Pelosis have faced accusations of profiting from political influence for years, and this latest revelation has only intensified calls for investigations into whether their financial dealings involve insider trading.
Leave a Comment