President Donald Trump is calling for former House Speaker Nancy Pelosi to be prosecuted over allegations of insider trading, after her husband, Paul Pelosi, sold over half a million dollars of Visa stock just months before a major lawsuit was filed against the company. Trump made the accusations during a speech at Trump Tower, linking the timing of the stock sale to insider knowledge.
“Nancy Pelosi sold vast amounts of Visa stock one day before the big lawsuit,” Trump said, referring to a Department of Justice antitrust lawsuit against Visa. The DOJ accused Visa of monopolizing the debit credit market, causing Visa’s stock to drop by 5% after the announcement. Trump suggested that the sale wasn’t just luck but a sign of insider trading and called for Pelosi to be prosecuted.
Paul Pelosi’s sale of Visa stock on July 3, months before the lawsuit became public, has drawn significant scrutiny, especially given the sharp drop in stock value following the lawsuit’s filing. Nancy Pelosi’s office has denied any involvement, stating that she does not own stocks and had no prior knowledge of the sale. Former securities attorney Ron Geffner also urged caution, stating that more context is needed before determining if insider trading occurred.
Trump’s criticism of Pelosi extended beyond the stock sale, as he also accused her of rejecting National Guard assistance during the Jan. 6 protests at the Capitol. The former president’s call for legal action against Pelosi reflects his broader frustration with high-profile Democrats whom he believes have avoided accountability for their actions.
As the controversy surrounding the Visa stock sale continues to grow, calls for an investigation are likely to increase, raising questions about the ethical responsibilities of public officials and their families in financial matters.
