Former President Donald Trump said that he supports the prosecution of former Speaker of the House Nancy Pelosi, D-Calif., over her husband’s massive Visa stock dump just prior to the company being hit with a federal antitrust lawsuit.
Paul Pelosi, husband of the former speaker, sold 2,000 shares of Visa stock worth more than $500,000 shortly before the Department of Justice filed an antitrust lawsuit against the credit card company. The DOJ accused Visa of suppressing competition by threatening merchants with high fees and paying off potential rivals.
"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.
"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," he said. "You think it was luck? I don’t."
But the former House speaker’s husband unloaded the 2,000 shares on July 1, almost three months before the announcement, financial disclosures show.
Trump told reporters that Nancy Pelosi was clearly aware of the pending lawsuit and alerted her husband of the pending litigation despite their being no public knowledge.
"She should be prosecuted," Trump declared. "Nancy Pelosi should be prosecuted for that."
In July, a bipartisan group of Senators unveiled a new proposal that would ban members of Congress, their spouses and dependent children from trading individual stocks. Critics have criticized past legislation as being too loose and easily circumvented by veining ignorance or clerical errors. In 2023, Business Insider identified 78 members of Congress who had failed to properly report their financial trades as mandated by the STOCK Act.
James Morley III ✉
James Morley III is a writer with more than two decades of experience in entertainment, travel, technology, and science and nature.
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