SHADY STOCK TRADES DOG PELOSI
Martha stewart served 5 months in prison for similar insider trading. And Nancy Pelosi has a well-deserved reputation for questionable inventory purchases itself, by securing stakes in lucrative IPOs and trading inside information gleaned from congressional meetings.
Paul Pelosi invested in SunEdison Weeks before the first wind purchase
WASHINGTON – Democratic House leader Nancy Pelosi’s husband bought up to a quarter of a million dollars in shares of SunEdison, a now struggling green energy company, just weeks before d ” announce a major acquisition in 2014 that caused its stock price to skyrocket. SunE’s 2014 purchase of wind power company First Wind “further strengthened the reputation of the company,” wrote a market observer at the time. “Unsurprisingly, SunEdison’s stock rose 29% on the news of this acquisition alone.”
Pelosi’s husband, Paul Pelosi, had invested just in time. He purchased between $ 100,000 and $ 250,000 in SunEdison shares on October 24, 2014, according to congressional financial disclosures. The company ad its First Wind acquisition on November 17.
Pelosi has previously been accused of trading stocks based on information gleaned from her official duties. A law passed as a result of the controversy prohibits members of Congress from using non-public information for personal gain. The language to this extent has been informally nicknamed the “Pelosi Provision”.
Pelosi’s office did not respond to questions about when the purchase was made and whether she or her husband had prior knowledge of the transaction.
THIS IS AN ESSENTIAL WATCH
NANCY BUSTED SUFFERS FROM MELTDOWN
The clip starts automatically at the perfect moment. Steve Croft asks Pelosi to get IPO shares in VISA while fighting a bill in Congress that would hurt VISA.
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