Paul Pelosi, the husband of House Speaker Nancy Pelosi (D-CA), is raising eyebrows for a large purchase of stock of a computer chip company, Breitbart News reports.
Why? Because the stock purchase occurred as the U.S. Senate is about to vote on a bill that would send billions of dollars to computer chip manufacturers.
Paul Pelosi’s stock purchase occurred on June 17. He acquired 20,000 shares of Nvidia, which are valued at anywhere from $1 million to $5 million.
Nvidia is “a technology company known for designing and manufacturing graphics processing units (GPUs).” Accordingly, it is reliant on semiconductors, and it is one of the largest semiconductor companies in the world.
It just so happens that the U.S. Senate is about to vote on a bill that the New York Post reports would “set aside $52 billion to boost domestic semiconductor manufacturing and give tax credits for production.” Nancy Pelosi’s House passed a similar bill earlier this year.
Given these facts, concerns are now being raised about possible insider trading.
The Daily Caller quotes Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen, as saying:
It certainly raises the specter that Paul Pelosi could have access to some insider legislative information. This is the reason why there is a stock trading app that exclusively monitors Paul’s trading activity and then its followers do likewise.
Pelosi has yet to respond to the accusation, but she is no stranger to being called out for her stock activities.
During her time in government, Pelosi has managed to accumulate $120 million, and a good portion of that is from stock trading. She certainly didn’t reach that figure on her government salary alone.