Former President Donald Trump ripped into Rep. Nancy Pelosi (D-CA) during a press conference, saying she “should be prosecuted” over alleged insider trading.
The Republican presidential nominee called out the former House speaker after reports this week that weeks ahead of the Department of Justice’s lawsuit against Visa, Pelosi’s husband, Paul Pelosi, dumped over $500,000 worth of the credit card giant’s stock.
“Nancy Pelosi has a little problem because her husband sold their Visa stock – they had a lot of Visa stock – one day before it was announced that Visa is being sued by the Department of Justice,” Trump said during a press conference at Trump Tower in New York, though he incorrectly noted it was one day before the lawsuit.
Financial disclosures showed that on July 1, Paul Pelosi sold 2,000 shares of Visa stock – worth between $500,000 and $1 million.
(Video Credit: Forbes Breaking News)
“Think of that. 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,” he continued.
“You think it was luck? I don’t think,” Trump said. “She should be prosecuted. Nancy Pelosi should be prosecuted for that. And she should also be prosecuted for J6 because she turned down 10,000 or any number she wanted, soldiers or National Guard.”
BREAKING :
The DOJ plans to open up a lawsuit against Visa saying they illegally monopolized the US debit card market
Pelosi sold ~$1 Million dollars of Visa $V just 2 months ago
Wild.
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) September 24, 2024
Tech entrepreneur Christopher Josephs is behind the “Nancy Pelosi Stock Tracker” on X where stock activity by all lawmakers is highlighted. The account posted a screenshot of a July 3 congressional filing showing that Pelosi sold Visa shares.
BREAKING: Pelosi is back on the Trading Desk
She just bought ~$5M of Broadcom $AVGO and another $1.2M of Nvidia $NVDA
She also sold ~$500K of Tesla and ~$536K of Visa $V pic.twitter.com/RGQoG4oW3F
— Nancy Pelosi Stock Tracker ♟ (@PelosiTracker_) July 3, 2024
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” a spokesperson for Nancy Pelosi told the New York Post this week.
Her husband owns the San Francisco-based investment and consulting firm Financial Leasing Services, Inc.
“The Justice Department filed a civil antitrust lawsuit today against Visa for monopolization and other unlawful conduct in debit network markets in violation of Sections 1 and 2 of the Sherman Act,” a DOJ press release read.
“Filed in the U.S. District Court for the Southern District of New York, the complaint alleges that Visa illegally maintains a monopoly over debit network markets by using its dominance to thwart the growth of its existing competitors and prevent others from developing new and innovative alternatives,” the press release continued.
As news of the lawsuit became public, Visa shares plummeted by 5.5%. Visa Inc. is a Delaware corporation headquartered in San Francisco.
Writers and editors can be contacted at [email protected] with feedback, tips, or corrections.
Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida. Powers also contributes to BizPac Review.
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