Former President Donald Trump has called for the prosecution of former Speaker of the House Nancy Pelosi (D-Calif.) over her husband's Visa Inc V stock trades. Trump suggested Pelosi was involved in insider trading.
What Happened: During a press conference at Trump Tower in New York, Trump claimed that Paul Pelosi, who is a venture capitalist and real estate investor sold a significant amount of Visa stock just before the Department of Justice announced a lawsuit against the credit card company.
Financial disclosures show that Paul Pelosi sold 2,000 shares of Visa stock, valued between $500,000 and $1 million, on Jul 1.
On Tuesday, nearly three months after the sale, Visa faced a DOJ lawsuit for allegedly monopolizing the debit card market. Trump implied that Nancy Pelosi had prior knowledge of the lawsuit and informed her husband.
"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," Trump stated. It should be noted that "Nancy Pelosi Stock Tracker" -- an account on X -- mentioned the trade on Tuesday, which is the same day the Department of Justice sued the payments processor.
The X account noted the comments from Trump on the trade and said, "To be clear, she sold a couple months before the DOJ lawsuit, not a day before." It was described as a "bad look" by the X tracker.
Trump, 78, firmly asserted, "She should be prosecuted. Nancy Pelosi should be prosecuted for that."
Visa shares dropped 5.5% on the day the lawsuit was announced, according to data from Benzinga Pro.
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Why It Matters: The call for prosecution comes amid a heated political climate. Recently, Nancy Pelosi has been vocal about her stance against Trump. On Tuesday, she urged voters to ignore Trump's "insults and conspiracies" and focus on electing Democratic presidential nominee Kamala Harris and other Democrats.
Pelosi has also been involved in other significant political debates. In August, she opposed a bill aimed at regulating artificial intelligence development in California, showing her influence in legislative matters.
Furthermore, Pelosi has emphasized the importance of unity in the country. In early September, she stated her commitment to ensuring Trump is not re-elected, highlighting the ongoing political rivalry between the two figures.
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