This story shouldn’t come as a surprise to anyone.
We recently reported on Nancy Pelosi’s alleged insider trading activities, and the recent revelation that 49 members of Congress have violated insider trading laws.
Illegal trading is rampant in government, so who could be truly shocked by the revelation that Nancy Pelosi’s son Paul was involved in a number of business concerns who came under federal scrutiny.
Sources claim that Paul Pelosi was involved in 5 separate business entities which were under investigation by the federal government.
Here’s what we currently know:
Daily Mail gave us a glimpse into the business dealings:
In 2009, Pelosi Jr. was recruited to be president of an environmental investment company called Natural Blue Resources.
The firm was ostensibly formed to find and use new underground aquifers in New Mexico.
But a Securities and Exchange Commission (SEC) investigation found that the company was in fact ‘secretly controlled’ by two convicted criminals, who used Pelosi Jr. and others as a front to let them ‘personally profit from the company without disclosing their past brushes with the law to investors’.
Local 12 News writes about the rampant abuses of securities law by members of government :
“Nobody kidnapped these members of Congress when they were private citizens, dragged them to Washington and forced them to be in Congress,” Shaub told Fox News.
“The American people are sick of members of Congress buying and selling stock and creating the appearance of trading on insider information.”
Under the STOCK Act of 2012, members of Congress and their employees are barred from using any nonpublic information derived from their position for personal benefit.