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In a striking turn of events that many are labeling a remarkable coincidence, Paul Pelosi, the husband of former House Speaker Nancy Pelosi, sold over $500,000 worth of Visa stock just before the Department of Justice filed an antitrust lawsuit against the company.
This transaction took place less than three months before Visa faced serious federal allegations, as documented in public records.
On Tuesday, the Justice Department officially charged Visa, claiming the company had illegally monopolized the debit card market, an outcome that emerged from a lengthy investigation by the department’s antitrust unit.
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The lawsuit alleges that Visa used its dominant market position to impose penalties on both customers and merchants who opted for competing payment processors.
While there are alternative payment options available, such as MasterCard and various prepaid cards, the focus here isn’t on the competitive landscape but rather on the timing of Paul Pelosi’s stock sale.
How did he manage to know the precise moment to divest his Visa shares? It raises significant questions about whether he received some kind of insider information prior to the announcement of the lawsuit.
Paul Pelosi is no stranger to financial dealings, and while he may be viewed skeptically by some, he has a history of making informed investment choices.
It’s entirely plausible that any forewarning about a pending lawsuit could have prompted him to sell his Visa stock well ahead of the negative news that would likely lead to a decline in stock prices.
Christopher Josephs, a tech entrepreneur and operator of the “Nancy Pelosi Stock Tracker” on X, shared a screenshot of a congressional filing dated July 3, indicating that Paul Pelosi had sold 2,000 shares of Visa, with the total value ranging between $500,000 and $1 million.
Notably, the disclosure form indicated that this transaction was marked “SP,” which signifies “spouse,” clearly referencing Paul Pelosi as the individual involved.
At the time of this sale, there were no public signs indicating that Visa was about to be hit with an antitrust lawsuit. Yet, just days after the lawsuit was filed, Visa’s stock fell by 5.5%, closing at $272.78, with further declines anticipated as the legal proceedings unfold.
This situation prompts the question: how…
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