President Donald Trump has called for former House Speaker Nancy Pelosi to be prosecuted for alleged insider trading, after it was revealed that her husband, Paul Pelosi, sold significant amounts of Visa stock just before a Department of Justice lawsuit against the company. Trump made the remarks during a speech from Trump Tower, expressing disbelief at the timing of the sale.
“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 stated. He demanded that Pelosi be prosecuted, implying that the sale was not a coincidence but an example of insider trading.
The Visa stock sale, which occurred on July 3, saw Paul Pelosi offload around $500,000 worth of shares months before the DOJ filed a civil antitrust lawsuit accusing Visa of monopolizing the debit credit markets. Visa’s stock dropped by 5% after the announcement, leading to questions about whether the Pelosis had advanced knowledge of the lawsuit.
Nancy Pelosi’s office denied any wrongdoing, stating that she has no personal stock holdings and was not involved in her husband’s financial decisions. Despite this, Trump and his supporters continue to push for an investigation, with many calling for accountability in light of the suspicious timing of the sale.
In addition to the Visa stock sale, Trump criticized Pelosi for her actions during the Jan. 6, 2021, protests, accusing her of refusing National Guard assistance at the Capitol. Trump’s demand for prosecution signals a continued clash between him and prominent Democratic figures as he seeks to hold them accountable for what he sees as unethical behavior.
