President Donald Trump has called for the prosecution of former House Speaker Nancy Pelosi, accusing her of insider trading after her husband, Paul Pelosi, sold a significant amount of Visa stock just before a Department of Justice lawsuit was announced. Speaking from Trump Tower in New York, Trump expressed outrage over the timing of the sale, which occurred months before Visa’s stock price dropped following the lawsuit.
“Nancy Pelosi has a little problem because her husband sold Visa stock one day before it was announced Visa is being sued by the Department of Justice,” Trump said. He went on to demand that Pelosi be prosecuted, questioning whether the sale was simply a coincidence or the result of insider information.
Paul Pelosi sold around $500,000 worth of Visa stock on July 3, nearly three months before the DOJ filed its antitrust lawsuit accusing the company of monopolizing the debit credit market. The timing of the sale and the subsequent 5% drop in Visa’s stock price have led to speculation about whether the Pelosis had advanced knowledge of the lawsuit.
Nancy Pelosi’s office denied any wrongdoing, stating that the former Speaker does not own any stocks and was not involved in her husband’s financial decisions. Former securities attorney Ron Geffner added that more context is needed before accusing Pelosi of insider trading, including whether the transaction was part of a broader portfolio strategy.
Trump also took the opportunity to reiterate his criticism of Pelosi’s actions during the Jan. 6, 2021, protests, accusing her of rejecting a request for National Guard troops to secure the Capitol. The Visa stock sale, however, has drawn the most attention, with Trump’s demand for a prosecution underscoring the ongoing political battles between the former president and prominent Democrats.
With the calls for an investigation into the stock sale growing louder, the pressure is mounting on Pelosi to address the allegations and provide further transparency.
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