President Donald Trump has accused Rep. Nancy Pelosi (D-CA) of insider trading after her husband made a suspiciously timed huge sale of Visa stock.
Given the seeming immaculate stock trading prowess shown by the former House speaker and her husband, Paul Pelosi, it’s no wonder they continue to draw attention.
The couple continues to amass a staggering personal fortune, with an estimated net worth of $240 million.
Many, on both sides of the political aisle, believe that Pelosi has used her powerful position in Congress for personal profit for years.
Pelosi is accused of gaining information that is not available to the general public in order to direct her husband to make lucrative stock trades.
According to Breitbart, the Pelosis amazingly timed stock trading superpowers were once again on display.
The trade was so obvious that it even drew criticism from Trump.
As THAIMBC News reported, the Pelosis benefitted from another incredibly “lucky” stock market decision just before a massive lawsuit dropped from the Biden-Harris administration’s Department of Justice (DOJ).
Paul Pelosi’s purey “coincidental” decision to sell $500,000 in Visa stock right before the DOJ announced the lawsuit was the kind of move that Wall St traders could only dream of.
For those unfamiliar with insider trading, Investopedia reports:
Insider trading involves trading in a public company’s stock or other securities by someone with non-public, material information about the company.
Insider transactions are legal if the insider makes a trade and reports it to the Securities and Exchange Commission, but insider trading is illegal when the material information is still non-public.
During a press conference in New York last week, Trump said that he believes Pelosi should be prosecuted for insider trading.
Trump argued that just one day before Visa was sued by the Biden-Harris DOJ, the Pelosis aware and knew to unload several thousand shares of the stock before it took a dive.
“Nancy Pelosi has a little problem because her husband sold their Visa stock,” Trump said.
“They had a lot of Visa stock, one day before Visa, it was announced that Visa is being sued by the Department of Justice. Think of that.”
Trump added, “Nancy Pelosi sold vast amounts of Visa stock one day before the big lawsuit that we all read about a few days ago, was brought against Visa.
“You think it was luck? … Nancy Pelosi should be prosecuted for that.”
🚨 Trump Calls for the Arrest of Nancy Pelosi
— World life (@seautocure) September 26, 2024
🚨🚨🚨🔥🔥🔥
Pelosi sold $500k worth of VISA stock one day before the DOJ announced their lawsuit against VISA..
Drop a . If you’d like to see Nancy Pelosi perp walked pic.twitter.com/OsMLNEwVZM
The Post noted that Trump’s timeline wasn’t accurate in the sense that it was a day before the DOJ sued the financial institution:
The Post cited financial disclosures which show that Pelosi’s husband, Paul, “unloaded 2,000 shares of Visa stock worth between $500,000 and $1 million on July 1,” noting that on Tuesday, “less than three months after the massive transaction, Visa was hit with a DOJ lawsuit alleging that the company illegally monopolized the debit card market.”
However, Trump accused the Pelosis of knowing that the lawsuit was coming.
This prior knowledge allegedly led to the sudden sale of at least $500,000 worth of the company’s stock before the lawsuit was announced.
Users across social media weighed in on their opinions on whether or not members of Congress should be able to trade stocks, given that many of them are privy to insider information before the public.
“Absolutely not, I’m sick of all these corrupt politicians who make millions by being elected,” one X user wrote.
“That’s what’s wrong with our current government.”
Another X user wrote, “They make it so obvious, yet nothing is ever done.
“They get richer while breaking the rules and continuing to get away with it.”
Currently, a bipartisan group of lawmakers are still attempting to severely restrict their colleagues from engaging in any kind of trading while they hold office.
Pelosi argues that she is not involved in insider trading because it is her husband who makes the trades.
According to corporate media “fact-checkers,” Pelosi cannot be accused of insider trading because she doesn’t discuss the trades with her husband in private.
