Former House Speaker Nancy Pelosi and her husband Paul have built quite the investing portfolio.
Are they just savvy investors? Or are they seemingly always a step ahead of everyone else?
The Pelosi’s latest money move is definitely raising some suspicious eyebrows.
According to a Fox Business report, recent financial disclosures show Nancy’s husband, Paul Pelosi, sold 2,000 shares of Visa on July 1, for at least $500,000.
It is unknown how much, if any, profit the Pelosi’s made in the transaction.
The timing of the trade comes after the X account “Nancy Pelosi Stock Tracker” flagged the trade earlier this week, after the Department of Justice filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market.
The sale of Visa shares by Mr. Pelosi, who owns San Francisco-based investment and consulting firm Financial Leasing Services, Inc., is the latest in a series of trades by the lawmaker’s husband that have drawn scrutiny for their timing.
According to Fox, earlier this year, the couple made headlines over analyst reports that the couple made nearly $4 million over a six-month period with a bet Mr. Pelosi made on Nvidia.
In 2022, Paul grabbed more than $1 million in Nvidia call options just weeks before a congressional vote on providing massive subsidies to the chip manufacturing industry. He sold them after she received criticism over their timing.
By rule, lawmakers’ spouses can trade in companies or industries their partner may help regulate. However, it’s illegal for family members and members of Congress to profit from inside information.
Members of Congress on both sides of the aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock over concerns of insider trading.