Case in point: Biden's Securities and Exchange Commission, the agency that is supposed to enforce laws against illegal stock trades, has just charged a former Republican lawmaker from Indiana with "insider trading" just days after House Speaker Nancy Pelosi's multimillionaire husband, Paul Pelosi, purchased millions in computer chip stocks as his wife was preparing the House to vote on a bill that would have greatly subsidized U.S. chip manufacturing.
Former Indiana Republican Rep. Stephen Buyer has been charged with insider trading by federal prosecutors and the Securities and Exchange Commission, both offices announced Monday.
Buyer, who left Congress in 2011, is accused of buying more than $1.5 million worth of stock in Sprint and Navigant Consulting based on nonpublic information he received as a consultant after he left office.
Buyer allegedly used seven different accounts to hide the stock purchases. They included accounts he shared with his wife, his son, his cousin, and one that belonged to an unidentified woman who had been romantically linked to Buyer.
His biggest crime appears to be that he is a Republican; he served in Congress from 1993 to 2011, representing Indiana's 4th Congressional District, which was previously numbered the state's 5th Congressional District.
Prosecutors allege that the former lawmaker in 2018 and 2019 bought more than $1.5 million worth of Sprint and Navigant Consulting stock based on insider information that he obtained while doing some consulting work. Later, he sold the shares after the information became public, according to prosecutors.
Federal authorities claim that Buyer used four different accounts to purchase 112,000 shares in Sprint over one week in 2018. He went on to sell those shares in August of that year after news that Sprint was merging with T-Mobile became public, profiting more than $126,000, the indictment claims.
"In 2019, he allegedly bought more than 16,000 shares of Navigant using multiple accounts, and then sold nearly all of them on the same day, after news became public that Navigant would be acquired by Guidehouse, authorities said. The Navigant stock sale netted approximately $223,000 in profit," CNBC added.
Now, it's quite possible that Buyer is guilty; that's not really the issue. The point is that Paul Pelosi has made several stock purchases while his wife has controlled the House voting agenda, and the most recent one involved $5 million worth of stock in U.S. chipmaker Nvidia, as a vote loomed on a bill to provide $52 billion in subsidies to chip manufacturers.
After the purchase became public -- further adding to suspicions -- Paul Pelosi this week sold the same stock and at a loss, according to the New York Post.
"It’s unclear whether the couple sold their entire stake or just a portion of it. They could still own as much as $6.5 million in Nvidia, according to congresstrading.com," the outlet reported, adding: "Meanwhile, the Pelosis still hold a stake in semiconductor company Micron worth as much as $500,000, filings show."
Insider trading? The Post notes further:
The Nvidia selloff is a dramatic reversal for the Pelosis. Paul began snapping up semiconductor stocks in June 2021 — the same month the first draft of the bill was introduced. He bought between $2.75 million and $11.5 million over the past year and has been actively trading these shares the entire time the bill has wended its way through Congress.
Just last month as the bill moved towards a vote, now slated for Thursday in the House, Pelosi bought between $1 million and $5 million more in Nvidia shares.
But Pelosi, of course, is a Democrat, and especially during the Biden regime, Democrats are off-limits for being charged with illegal activities.
The fact that Biden's dirtbag son, Hunter Biden, remains a free man is further proof of that.
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