House Speaker Nancy Pelosi’s son, Paul Pelosi Jr., is said to have links to at least five businesses that are being investigated by officials on fraud charges.
Nancy and Paul Pelosi’s only son, 52-year-old Paul Pelsoi, has been hired by several firms under federal and state scrutiny and is also linked to “many fraudsters. Violators and convicted criminals,” though even though he never blamed himself, according to DailyMail.com.
According to the website, he was hired as a senior vice president in February 2007 by the InfoUSA database marketing company in the small Pelosi Omaha state, and a few years ago was accused by the Iowa Attorney General of selling consumer information to fraudsters. investigated.
The data was then allegedly used to deceive sick and trustworthy elderly people. The investigation was closed and no one was arrested. Pelosi Jr., who earns $ 180,000 a year, joined the firm after the investigation was completed.
InfoUSA was founded by Vin Gupta, a major donor to former President Bill Clinton. The Associated Press reports that Gupta and his company were investigated in 2007 by the Securities and Exchange Commission.
The investigation began after Guptani sued Bill and Hillary Clinton by shareholders accusing them of embezzling company funds to fly on private corporate planes.
In 2010, the SEC accused Gupta and two others of “transferring illegal compensation money in the form of millions of dollars in benefits.” Eventually the case was resolved. Gupta denied or denied the allegations.
In 2009, Paul Jr. was one of the founders of an investment company, which aimed to “create, acquire or otherwise invest in environmentally friendly companies, including the initiative to find, treat and sell groundwater.” Aquifers and other areas where water resources are declining in New Mexico.
But the SEC claimed that the company was secretly run by two convicted fraudsters – James E. Cohen and Joseph Koratsi. In 2014, the agency filed fraud charges against Cohen, Corace, former New Mexico Gov. Tony Anaya, and former CEO Eric Perry.
Although Cohen and Koratsi claimed to be “external consultants,” they controlled the company “without disclosing their previous brushes to investors by law.” Little Pelosi reportedly owned more than 10 million shares in the company.
The SEC has suspended trading in Natural Blue shares. Little Pelosi was never charged. According to DailyMail.com, the SEC acknowledged that it did not play a “meaningful role” in one of the firm’s key deals and even testified against the accused in court.
The SEC also said Little Pelosi had “strongly objected” to the proposed fundraising agreements and was expelled from the board by Cohen and Koratsi.
Perry and Anaya both reached an agreement with the SEC.
In October 2013, the small Pelosi joined FOGFuels, a biofuel manufacturer. Prior to his appointment as vice president, company founder Paul Marshall was accused by the SEC of stealing $ 3 million from senior investors.
Marshall was accused of using the money “for various … personal expenses, including luxury vacations, child support and alimony payments, tuition in private schools and camps for their children.”
FOGFuels was disbanded in 2015. Three years later, Marshall was sentenced to six years in federal prison. His sentence was reduced after he collaborated with the FQB on a separate bribery case involving an Atlanta official.
In 2014, little Pelosi was appointed independent director of Los Angeles-based Targeted Medical Pharma. Seven months after he was hired, he left the company. A year later, the Food and Drug Administration accused Targeted Medical Pharma of testing drugs in people without permission, DailyMail.com reports.
The company took no other legal action. He said the FDA’s investigation was linked to a “personnel problem.”
In the fall of 2014, Pelosi Jr. became the “Business Development Leader” of the Corporate Governance Initiative. The SEC statement said the CGI was a “non-profit group” focused on “building transparency, capitalism and a sustainable organization”.[s]””
In December 2015, Junior Pelosi was promoted to CEO. During his time at CGI, he reportedly contacted New York-based leader Asa St. Clair, who was accused of carrying out cryptocurrency fraud through his charity, World Sports Alliance.
The Ministry of Justice has claimed that the World Sports Alliance is a “fake branch of the United Nations”.
“St. Clair allegedly deceived investors into the digital currency IGObit claimed by the WSA. [World Sports Alliance] It was evolving, but it turned out to be a fake bait to attract sacrificial investors, ”federal prosecutors claim.
Accused of wire fraud, St. Clair pleaded not guilty. If convicted, he could face up to 20 years in prison.
Little Pelosi approved the counterfeit cryptocurrency on his website in January 2018, writes DailyMail.com and writes: “IGOBit is the absolute best offer I’ve ever seen”.
He has never been charged in connection with IGOBit or Saint Clair.
In July 2016, he became a senior consultant at Oroplata Resources, a small lithium mining company in Pelosi.
A month before arriving on board, Oroplata executives allegedly issued fake shares worth $ 26 million and then transferred some of them to themselves and others without the board’s permission.
The indictment was filed in a 2018 civil lawsuit filed in Nevada.
Little Pelosi received 2.8 million shares in July 2016 from counterfeit shares, DailyMail.com reports.
Court documents quoted by DailyMail.com show that little Pelosi bought the shares for $ 2,800 – although the actual market value ranged from $ 4,228,000 to $ 5,152,000.
The fraud was allegedly orchestrated by Roger Knox, owner of a Swiss asset management firm, who was convicted of a “pump-and-dump” scheme worth a total of $ 164 million.
According to federal prosecutors, Oraplata was one of several firms involved in Knox’s fraud.
Knox pleaded guilty two years ago. He faces up to 20 years in prison, as well as a $ 5 million fine.
Little Pelosi’s name was not mentioned in the civil lawsuit or in the federal lawsuit against Knox.
On his LinkedIn page, Little Pelosi does not provide any information about his previous positions at InfoUSA, Natural Blue Resources, FOGFuels, Targeted Medical Pharma, CGI and Oroplata Resources.
On his LinkedIn page, he is currently listed as a strategic advisor to EVSX, an eco-mining and processing company based in Quebec, Canada.
Last month, Nancy Pelosi filed a lawsuit claiming that she and her husband had made about $ 30 million in stock trading with Big Tech firms.
The financial loss prompted both parties to push lawmakers to pass a bill banning the sale of securities to members of Congress.
Pelosi, a strong Democrat representing San Francisco, has been accused of profiting from companies he was responsible for regulating.
According to an analysis by The Post, Pelosi is one of the richest members of Congress, with a fortune of more than $ 106 million.
This is an average of the maximum and minimum calculated value of its assets and liabilities – a methodology used by the Center for Responsible Policy – using its most recent financial data for August, which is a maximum of $ 252 million and water. under at least $ 40 million.
Pelosi’s husband, Paul Pelosi, is a businessman who runs a venture capital and investment firm, Financial Leasing Services, and his wife has invested countless dollars in high-profile companies it should control, such as Amazon, Apple and Google.
Asked last month whether the opportunity to profit from trading could lead to a conflict of interest, the speaker replied “no” to the idea of supporting a ban on the sale of individual shares.
“We are a free market economy,” Pelosi told reporters. “They are [members of Congress] it must be able to participate. ”