(DailyChive.com) – Former President Donald Trump recently went after Rep. Nancy Pelosi, targeting her husband’s stock trades involving Visa. During a press conference at Trump Tower, he called for Pelosi to face legal consequences over the timing of the trades.
Trump, who is running for president in 2024 against Vice President Kamala Harris, believes Pelosi should be prosecuted for insider trading. He pointed out that just before a lawsuit was filed against Visa, Paul Pelosi, Nancy’s husband, sold a significant amount of Visa stock.
“Think about it,” Trump said. “Nancy Pelosi’s husband sold a lot of Visa stock—right before Visa got hit with a big lawsuit from the Department of Justice. You think that was just luck? No way. Nancy Pelosi should be prosecuted for that.”
According to the New York Post, financial records show Paul Pelosi sold 2,000 shares of Visa stock, valued between $500,000 and $1 million, just days before the DOJ filed a lawsuit accusing Visa of monopolizing the debit card market.
Trump suggested that Nancy Pelosi knew about the lawsuit in advance and tipped off her husband, which would be illegal. He believes this raises serious ethical concerns, especially for a public servant in a position of power.
This isn’t the first time Nancy Pelosi’s stock trades have raised eyebrows. In 2011, Peter Schweizer, a government watchdog, revealed that Pelosi had purchased up to $5 million of Visa stock during an initial public offering (IPO) while also delaying credit card reform. Pelosi’s stock skyrocketed by 203%, fueling accusations that she benefited from nonpublic information.
To prevent this kind of activity, Schweizer, along with Andrew Breitbart, pushed for the STOCK Act. This law, passed in 2012, makes it illegal for lawmakers and their staff to use insider information to profit from stock trades.
In 2023, politicians were involved in over $1 billion worth of stock trades, further stoking calls to ban Congress members from trading stocks altogether.
A spokesperson for Nancy Pelosi, however, denied any wrongdoing, stating that she does not own any stocks and had no prior knowledge of her husband’s transactions.
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