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In the wake of Fox Business Network host Larry Kudlow offering a damning critique of Speaker Nancy Pelosi, D-Calif., saying he has a problem with her trading Big Tech stocks for companies like Facebook, Google, Amazon while seemingly slow-walking serious regulatory issues impacting these companies, the Daily Mail reported that Pelosi’s son has connections to five companies probed by federal agencies.
“A shocking paper trail shows Paul Pelosi Jr.’s connections to a host of fraudsters, rule-breakers and convicted criminals,” the British tabloid reported. “His years-long repeated business dealings raise two troubling questions Nancy’s son has been unable to answer: why did he get mixed up with such unsavory characters over and over, and how involved was he with the criminal investigations into his fraudster colleagues?”
What’s more, despite the dubious connections Pelosi’s son has never been charged.
“But despite all of his associations with criminals and alleged fraudsters, the powerful politician’s son has never been charged himself – and has tried to cultivate a squeaky-clean, green image,” the Daily Mail reported.
At the same time, the article noted that Pelosi Jr. and other sources “admit that some of his business dealings may have arisen from savvy entrepreneurs hiring him in an attempt to curry favor with his powerful family.”
More from the Daily Mail on Pelosi Jr.’s links to alleged lawbreakers:
- The 52-year-old joined the board of a biofuel company after it defrauded investors according to an SEC ruling, and whose CEO was convicted after bribing Georgia officials
- Pelosi Jr. was president of an environmental investment firm that turned out to be a front for two convicted fraudsters
- He joined a lithium mining company and received millions of shares, allegedly issued as part of a massive $164 million fraud
- He was vice president of a company previously embroiled in an investigation of scam calls that targeted senior citizens
- He has close business ties with a man accused by the Department of Justice of running a fake UN charity that stole investors’ money
- A medical company Pelosi Jr. worked for tested drugs on people without FDA authorization, according to an FDA investigation
The most recent incident Pelosi Jr. was tied to involved Oroplata Resources, a lithium mining company that has since changed its name to American Battery Metals Corporation. He joined the firm as a Senior Advisor in July 2016, one month after company leadership was accused of “breaching its fiduciary responsibility” and “fraudulently” issuing $26 million of shares without the approval of the board of directors, according to a 2018 Nevada civil lawsuit.
The lawsuit was brought by Oroplata against its old management, claiming that leadership awarded 16 million shares worth $26 million “to themselves and close ally recipients” without board approval, the Daily Mail reported — while Pelosi Jr. received 2.8 million of the allegedly fraudulent shares, he was not named in the criminal case or the Nevada civil case brought by Oroplata.
“In January 2020 the man at the center of the huge ‘pump-and-dump’ scheme, Swiss asset management firm owner Roger Knox, 49, pled guilty to securities fraud,” the paper said. “Knox now faces a sentence of up to 20 years in prison, three years of supervised release and a fine of $5 million.”
Perhaps, Pelosi Jr. learned the art of profiting from his mother, who was dubbed “the Queen of Stocks” by Kudlow for her uncanny ability to pick winners in the stock market.
“Now, frankly, I don’t have any problem with Ms. Pelosi getting rich. I like the fact that she’s heavily invested in stocks and is last year’s Wall Street trader of the year. I’ve always believed that a rising tide would lift all boats,” he said. “But I do have a slight problem with Ms. Pelosi’s trading companies that have serious regulatory issues pending before the Congress. Some people believe she has been slow-walking regulatory issues around the tech giants. ”
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