Nancy Pelosi’s husband buys millions in computer-chip stocks before big subsidy vote
By Rich Calder
July 16, 2022
House Speaker Nancy Pelosi’s husband purchased up to $5 million in stock options on a computer-chip company ahead of a vote on legislation next week that would deliver billions of dollars in subsidies to boost the chip-manufacturing industry, new financial disclosures show.
Paul Pelosi purchased on June 17, 20,000 shares of Nvidia, a top semiconductor company, worth between $1 million and $5 million, the Daily Caller reported, citing disclosure reports filed by the House speaker.
Senators are expected to convene as early as Tuesday to vote on a bipartisan competition bill to set aside $52 billion to boost domestic semiconductor manufacturing and give tax credits for production, Reuters reported.
“It certainly raises the specter that Paul Pelosi could have access to some insider legislative information,” Craig Holman, a government affairs lobbyist for the left-wing think tank Public Citizen, told the Daily Caller News Foundation. “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’s office did not immediately respond to a request for comment.
If someone is caught in the act of insider trading, he can either be sent to prison, charged a fine, or both. According to the SEC in the US, a conviction for insider trading may lead to a maximum fine of $5 million and up to 20 years of imprisonment.
