Former House Speaker Nancy Pelosi (D-Calif.) and her husband benefited Another incredibly lucky stock market decision was made just before a major government lawsuit.
Many suspect Pelosi of using inside information from her powerful position in government to make lucrative trades on the stock market.
“It is important to determine who made the transactions on her behalf.”
The U.S. Department of Justice on Tuesday filed an antitrust lawsuit against Visa, alleging that the credit card giant is using its enormous financial advantage to monopolize the credit market.
Visa's stock price fell 5.5% in the wake of the lawsuit, but the Pelosians were extremely lucky in that they had sold more than $500,000 worth of stock just a few weeks before the lawsuit.
An account run by entrepreneur Christopher Josephs tracks and reports on Pelosi's stock transactions and cited the July 3 stock sale.
Comments from a spokesman for Nancy Pelosi did not appear to directly address the accusations.
“Speaker Pelosi does not own any securities and has no prior knowledge or subsequent involvement in any transactions,” the statement to the New York Post said.
A former securities lawyer told The Washington Post that the transactions do not necessarily indicate insider trading.
“Before the public judges Pelosi unfairly, it's important to determine who made the deal on her behalf and whether it was part of a broader shift in her portfolio,” Ron Geffner said.
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