Speaker of the House Nancy Pelosi’s son is linked to criminal-run companies which had multiple near-misses with the law, according to a new report.
While Paul Pelosi Jr. has never been charged with crimes, a new report from The Daily Mail suggests that he has ties to or worked for at least five companies that were investigated by federal prosecutors for various fraud and scamming schemes.
Shortly after his mom assumed the role of Speaker of the House in 2007, Pelosi Jr. took a six-figure position at InfoUSA. The company was run by Vinod Gupta, a notable Democrat donor who was under investigation for allegedly selling consumers’ data to criminals who used it to scam vulnerable populations such as senior citizens. Even though the Iowa attorney general suggested that InfoUSA employees knew they were selling to alleged scammers, neither Gupta nor his company was charged.
Two years later, Pelosi Jr. assumed the presidency of Natural Blue Resources, an environmental company, after convicted fraudsters James Cohen and Joseph Corazzi recruited him so they could “personally profit from the company without disclosing their past brushes with the law to investors.”
In Hunter Biden-esque fashion, Pelosi Jr. became vice president of biofuel company FOGFuels in 2013, just one month after the Securities and Exchange Commission filed charges against FOGFuels and founder Paul Marshall. According to the Daily Mail, Pelosi Jr. “left the FOGFuels position off his LinkedIn resume completely.”
In 2014, he became the independent director of Targeted Medical Pharma, and left the company seven months later. Shortly afterward, the company was accused of conducting unauthorized trials by the Food and Drug Administration. The company was eventually cleared of wrongdoing.
In late 2014, Pelosi Jr. became business development executive of a “transparency” nonprofit called Corporate Governance Initiative. He later became executive director. During his time at CGI, Pelosi Jr. grew close with alleged fraudster Asa Saint Clair who reportedly ran a cryptocurrency scam through his United Nations-affiliated charity, the World Sports Alliance. Pelosi Jr. and Saint Clair had previously and publicly endorsed each other’s efforts. Saint Clair even called Pelosi Jr. “a longtime associate, both business and personal.”
In 2016, Pelosi Jr. joined lithium mining company Oroplata Resources one month after the company was accused of issuing fraudulent shares. Pelosi allegedly received at least 2.8 million of these shares.
Pelosi Jr. has never been charged with crimes relating to these cases but the revelations raise questions about his ties to criminal activity and his family’s financial dealings.
Pelosi and her husband, Paul Pelosi, a San Francisco real estate investment mogul, have poured tons of money into the stock market and profited millions off of shares largely staked in Big Tech stocks such as Alphabet, Google’s parent company. According to disclosure forms collected in the House, Pelosi has reported holding stocks in Microsoft, Roblox, Netflix, and recently sold Facebook and Apple shares.
The speaker has been accused of trading stocks using inside information in the past.
“Former U.S. House Speaker Nancy Pelosi (D-San Francisco) and her husband have participated in at least eight IPOs. One of those came in 2008, from Visa, just as a troublesome piece of legislation that would have hurt credit card companies, began making its way through the House,” CBS News’s “60 Minutes” reported. “Undisturbed by a potential conflict of interest the Pelosis purchased 5,000 shares of Visa at the initial price of $44. Two days later it was trading at $64. The credit card legislation never made it to the floor of the House.”
