Nancy Pelosi's husband sold more than $500K in Visa stock ahead of DOJ action
Stock trades by the spouse of former House Speaker Nancy Pelosi draw attention again, this time over Visa sale
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Former Speaker of the House and current Rep. Nancy Pelosi, D-Calif., is receiving attention once again due to her husband's stock trading, this time over her spouse unloading Visa shares a few months before the federal government sued the company.
Financial disclosures show the California Democrat'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 Pelosis made in the transaction.
Former House Speaker Nancy Pelosi, D-Calif., and her husband Paul Pelosi attend the Vanity Fair Oscars Party at the Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 10. (Michael Tran/AFP via Getty Images / Getty Images)
The X account "Nancy Pelosi Stock Tracker" flagged the trade on Tuesday, the same day the Department of Justice filed a lawsuit against Visa, alleging that the company maintained an illegal monopoly over the U.S. debit card market.
Rep. Pelosi's congressional office did not immediately respond Wednesday to FOX Business' request for comment on the trade.
NANCY PELOSI'S HUSBAND HAS STIRRED SCRUTINY FOR YEARS OVER HIS STOCK PURCHASES
In response to previous inquiries regarding Mr. Pelosi's trades, a spokesperson for the former speaker issued a statement saying, "Speaker Pelosi does not own any stocks, and she has no prior knowledge or subsequent involvement in any transactions."
The Justice Department sued Visa on Tuesday in an antitrust suit. (Andrew Harrer/Bloomberg via Getty Images / Getty Images)
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| V | VISA INC. | 316.87 | +1.80 | +0.57% |
Visa, Inc.
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.
PELOSI SAYS HER HUSBAND NEVER MADE STOCK PURCHASES BASED ON INFO SHE GAVE HIM
Earlier this year, the Pelosis 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.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NVDA | NVIDIA CORP. | 138.63 | +0.38 | +0.27% |
Nvidia Corp.
In 2022, Paul Pelosi 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.
House Speaker Nancy Pelosi, D-Calif., holds her weekly press conference at the U.S. Capitol in Washington, D.C., on July 21, 2022. (Nathan Howard/Getty Images / Getty Images)
Lawmakers' spouses can trade in companies or industries their partner may help regulate, but it's illegal for family members and members of Congress to profit from inside information.
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Members of Congress on both sides of the political aisle have proposed legislation in recent years that would ban lawmakers and their family members from owning stock over concerns of insider trading.
FOX Business' Eric Revell contributed to this report.