Pelosi’s Husband Sells Over $500K of Visa Stock Just Before DOJ’s Antitrust Lawsuit

[Social Media]

 

Paul Pelosi, husband of former House Speaker Nancy Pelosi, sold more than $500,000 worth of Visa stock just a few months before the company was hit with a federal antitrust lawsuit. Public records show that the sale occurred less than three months prior to the Justice Department’s filing against the credit card giant, which has been accused of monopolizing the debit card market.

 

 

The Department of Justice (DOJ) filed its lawsuit on Tuesday, claiming Visa used its dominant market position to penalize both customers and merchants who chose to use competing payment processors. Court documents allege that Visa forced financial tech firms to work with the company through threats of penalties if they opted for other processors. The Post has sought comment from Visa regarding these allegations.

 

At the same time, a tech entrepreneur, Christopher Josephs, who runs the "Nancy Pelosi Stock Tracker" on X, shared a screenshot of a congressional filing dated July 3. The filing disclosed that Paul Pelosi sold 2,000 shares of Visa stock, valued between $500,000 and $1 million. The document, filed under former Speaker Pelosi’s name, is marked “SP” for spouse, indicating that Paul Pelosi was the party behind the transaction. 

 

At the time of Paul Pelosi’s stock sale, there were no public indications that an antitrust lawsuit was forthcoming against Visa. The company’s stock later dropped 5.5%, closing at $272.78 per share. 

 

Nancy Pelosi’s spokesperson responded to inquiries, stating, “Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions.” Nevertheless, critics argue that Pelosi’s position in Washington may give her access to information that could impact the stock market. 

 

Ron Geffner, a former enforcement attorney with the Securities and Exchange Commission, emphasized caution before jumping to conclusions. “At various critical inflection points in history, members of our government have engaged in trading at a time which their conflicts are called into question,” Geffner told The Post. However, he added that it’s important to determine the full context of the transaction. “Before public opinion judges Pelosi unfairly, it is important to determine who engaged in the transaction on her behalf as well as whether it was part of a broader change of her portfolio.”

 

In addition to the Visa sale, the July 3 disclosure revealed that Paul Pelosi sold 2,500 shares of Tesla while purchasing stock in Nvidia and Broadcom. Nancy Pelosi, who remains a prominent figure in the Democratic Party despite stepping down as House Speaker last year, holds a significant net worth due to the couple’s extensive stock portfolio.

 

Over the years, Pelosi has resisted calls from both Democrats and Republicans to ban legislators and their spouses from trading stocks, despite the potential for conflicts of interest.

 

The DOJ’s lawsuit against Visa follows a lengthy investigation. In 2021, Visa had disclosed in a regulatory filing that the DOJ’s antitrust unit had requested information on potential violations of laws governing market competition. Reports suggest that investigators are examining Visa’s relationships with companies such as Square, Stripe, and PayPal, alleging that Visa may have provided these firms with financial incentives to discourage them from using competing payment processors.

 

Visa is also alleged to have offered lower fees and other perks to Square’s subsidiary, Cash App, on the condition that the company steered customers toward using Visa-branded services. Visa has stated that it believes its debit card practices comply with the law and that it is cooperating with the investigation.

 

 

Based on a report from: NYP 2024-09-26

 

 

 

[thaibeachlovers]

Is anyone surprised?

[Chomper Higgot]

The big issue here is what Visa are up to.

 

 

[stoner]

i hope kamala wins and implements the unrealized gains tax. nancy is in for a huge hit. 

 

she is worth well over 100 million. 

 

vote kamala 2024. 

[still kicking]

1 minute ago, stoner said:

i hope kamala wins and implements the unrealized gains tax. nancy is in for a huge hit. 

 

she is worth well over 100 million. 

 

vote kamala 2024. 

Are you stoned again?

[rasg]

29 minutes ago, thaibeachlovers said:

Is anyone surprised?

She's been insider trading for years. Just one of the things that will bring her down.

[stoner]

20 minutes ago, still kicking said:

Are you stoned again?

 

again ?

[still kicking]

Yes again or still 

[Chomper Higgot]

7 hours ago, stoner said:

i hope kamala wins and implements the unrealized gains tax. nancy is in for a huge hit. 

 

she is worth well over 100 million. 

 

vote kamala 2024. 

Harris support is suddenly gaining momentum on the forum.

 

 

[harriott456]

they're all on the take but it seem nobody cares to do anything about it.

 

the public just fight between themselves and politicians get away with it

[spidermike007]

Many members of the House and Senate do insider trading, and although there were laws that were passed to prevent that, they do not seem to be enforced and these fools continue to make millions upon millions of dollars trading upon secrets that the public is unaware of. In my opinion they should be prosecuted and jailed for extensive periods for this kind of  crime. 

[JonnyF]

The Pelosi's have been getting away with this for far too long.

 

But nothing will happen because they are the Liberal elite. 

 

[Purdey]

It looks strange when people on the forum seem to have so much inside information ("They all do it") but as no instances of prosecution occur, where does this information come from?

 

As the article states, Ron Geffner...  emphasized caution before jumping to conclusions...  he added that it’s important to determine the full context of the transaction. “Before public opinion judges Pelosi unfairly, it is important to determine who engaged in the transaction on her behalf as well as whether it was part of a broader change of her portfolio.”

 

Someone who trades regularly will often make a trade months before something happens. This isn't unusual. 

[RichardColeman]

Democrats - corrupt to the core

[wombat]

They scam you in plain sight with insider trading and you keep electing them?

[wombat]

27 minutes ago, Purdey said:

 

Someone who trades regularly will often make a trade months before something happens. This isn't unusual. 

So your running with coincidence?

[Purdey]

Just now, wombat said:

So your running with coincidence?

I trade. Things happen coincidentally - months before the event.

[thaipo7]

TUG is a very good at always spewing BS on Trump but when we have proven facts on the illegal actions of Democrats, his is as silent as Harris when asked a non-scripted question.  The Pelosi's have made multi-millions on insider trading.  2022 was a tough year, even for the best on Wall Street but Pelosi's husband did something like 5 times better than the best on Wall Street.  Bought a slew of options on TSLA stock just before the news came out that the government was going to continue or was starting a new program to give $7500 to those that bought TSLA EVs.  But we know it is the Republicans that cater to the rich.  Only the wealthy could buy the  $60,000 cars at the time and they were getting $7500 from the government.  Isn't this considered giving to the rich??

[billd766]

9 hours ago, thaibeachlovers said:

Is anyone surprised?

And was Paul Pelosi the only person to sell the stock? Most people who own stock sell and buy on a regular basis, including large and small institutions, as do many local governments. They do it to make money or to cut their losses.

 

Stocks rise and fall in value on a daily basis.

 

2 stocks which have fallen recently on the US stock market are Truth Social and X.

 

If Paul Pelosi had shares and stock in those 2 companies, should he keep them or sell them?

[billd766]

9 hours ago, rasg said:

She's been insider trading for years. Just one of the things that will bring her down.

Naturally you have the links to prove that. and that you have contacted the US authorities and complained about that.

[billd766]

50 minutes ago, RichardColeman said:

Democrats - corrupt to the core

And of course the Republicans would NEVER do anything wrong or illegal would they? A shining example of truth and honesty would be Trump, who claims to be a Republican.

[koolkarl]

Wish both Pelosi's  share a jail cell with the poor fellow that tried to do the right thing.

[stoner]

5 hours ago, Chomper Higgot said:

Harris support is suddenly gaining momentum on the forum.

 

 

 

i do love your conspiracy theories.

[candide]

More nothing burger B.S. from the NYPost! 😀

 

I just checked on Yahoo finance, and the share price was lower when he sold it than now after the lawsuit announcement.

3 July: L 268.15 H 269.75

25 September L 268.23 H 274.25

 

Of course, the MAGA gullible fell for it, as usual! 😉

 

https://finance.yahoo.com/quote/V/history/

 

Edited 9 hours ago by candide

[simple1]

6 hours ago, JonnyF said:

The Pelosi's have been getting away with this for far too long.

 

But nothing will happen because they are the Liberal elite. 

 

 

The practice would be common across nearly all politicians.

[candide]

6 hours ago, JonnyF said:

The Pelosi's have been getting away with this for far too long.

 

But nothing will happen because they are the Liberal elite. 

 

And of course, you have proof to show about it! 😀

Edited 9 hours ago by candide

[Tug]

7 hours ago, thaipo7 said:

TUG is a very good at always spewing BS on Trump but when we have proven facts on the illegal actions of Democrats, his is as silent as Harris when asked a non-scripted question.  The Pelosi's have made multi-millions on insider trading.  2022 was a tough year, even for the best on Wall Street but Pelosi's husband did something like 5 times better than the best on Wall Street.  Bought a slew of options on TSLA stock just before the news came out that the government was going to continue or was starting a new program to give $7500 to those that bought TSLA EVs.  But we know it is the Republicans that cater to the rich.  Only the wealthy could buy the  $60,000 cars at the time and they were getting $7500 from the government.  Isn't this considered giving to the rich??

Huh???what are blubbering about now?I haven’t commented on this because it’s a nothing burger piece put out by the NYP I’d be curious as to how you feel about the billions Jarod and ivanka got from the Saudis ehh rite after they worked for the government…….just another smear piece.