House Speaker Nancy Pelosi just gave some information about some very suspicious stock purchases that her husband Paul made earlier this year.
It's nothing unusual to purchase stocks throughout the year, especially when you're filthy rich like the Pelosi family, but it seems like there may be something shady going on.
Paul Pelosi, a venture capitalist made a $4.8 million purchase of Amazon shares, that's 3,000 shares, but did so paying $300 less per share than what that stock was trading for that day. It just so happens that Jeff Bezos also owns the Washington Post.
The Amazon options had a strike price of $1,600, nearly $300 below the price Amazon shares were trading for that day. He bought 3,000 shares — he had previously held only options at the end of 2018, according to a filing.
He bought 5,000 shares of Facebook, 3,000 of which had a strike price of $140 and the rest had a strike price of $150. Facebook traded around 37% above the lower strike price the day he exercised the calls. Prior to the purchase, Paul Pelosi already held between $500,000 and $1 million in Facebook stock, a filing shows.
On the same day Paul Pelosi made the purchases, Senator Pelosi criticized Facebook for "schmoozing" with the Trump administration. "I think that they have been very abusive of the great opportunity that technology has given them," she said in a press conference, adding, "My thought about them is that all they want is their tax cuts and no antitrust action against them."
"They intend to be accomplices for misleading the American people with money from god knows where," she said.
Remember when Nancy Pelosi was seen tearing up the President State of the Union speech back in February? She tried to use her staff to force Facebook to remove the video of her atrocious act. A spokesman for Facebook Andy Stone responded to Pelosi's Chief of staff saying, "Sorry, are you suggesting the President didn't make those remarks and the Speaker didn't rip the speech?"
Stone then reasonably explained the Facebook policy, "The reason I was making the point about the fact that the things featured in this video actually happened is because that's a key element of our policy on content like this."
The Pelosi family has made at least $600,000 on their very suspicious stock purchase.
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