Former President Donald Trump called for criminal charges to be brought against U.S. Rep. Nancy Pelosi (D-Calif.) for insider trading after her husband dumped shares of Visa stock months before the Department of Justice (DOJ) unveiled a lawsuit against the company.
“Nancy Pelosi sold vast amounts of visa stock one day [sic] before the big lawsuit that we all read about a few days ago was brought against Visa. You think it was luck? I don’t think. She should be prosecuted,” said Trump.
Paul Pelosi, Rep. Pelosi’s husband, sold 2,000 shares of Visa stock on July 1, just months before the DOJ announced its antitrust lawsuit against the company for its monopoly of the debit transaction network.
It’s just the latest in a string of highly lucrative trades — almost perfectly timed — that have seen Pelosi’s investment profile outperform some of the most seasoned Wall St. veterans.
President Trump incorrectly stated that the transaction took place one day before the lawsuit instead of months before.
The X account @PelosiTracker_ published her transaction report on Paul Pelosi’s transactions from late June to early July, showing a massive purchase of Nvidia stocks, a sale of Tesla stocks, and the Visa dump. Members of Congress are required to disclose certain financial information, including when they or their spouses buy or sell shares of publicly traded companies.
The report places the value of the 2,000 shares at a range of $500,000-$1,000,000, and an analysis of the value per share at closing on the transaction date places the transaction at $526,480.
Visa’s stocks plummeted by five percent after the lawsuit was announced, and the legal proceedings could lead to an even sharper drop for the company.
Pelosi’s spokesperson denied that she had any foreknowledge of the lawsuit and claimed that she does not own any stocks but failed to mention her husband’s significant holdings.
“Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions,” the spokesperson told The Washington Post.
Pelosi and her husband have long been known as some of the biggest stock traders in Congress, raising eyebrows for their suspicious trades, often coming just before federal announcements led their holdings to surge.
Last year, Pelosi pulled in $1,060,000, four times her congressional salary, on just one massive trade of Nvidia stocks.
She faced heavy scrutiny for her past dealings with the chip-producing behemoth.
In 2022, Pelosi raised eyebrows after she traded millions of dollars worth of Nvidia stocks shortly before voting on a bill concerning semiconductors manufactured by the company.
That controversy led her to briefly divest from her Nvidia stocks before reinvesting in the company just before the Biden Administration announced a policy allowing Nvidia to avoid export regulations.
Her June-July disclosure shows that her relationship with Nvidia continues, with Paul Pelosi purchasing 10,000 shares of the company worth $1,264,000 just days before selling his Visa stock.
Pelosi has also drawn criticism for suspicious trades, allowing her to profit off the wars in Ukraine and Israel.
The former House Speaker has never faced charges for insider trading, and it is unlikely that her husband’s recent dealings with Visa will lead to any prosecution.
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