After being linked to a plethora of fraudsters and convicted criminals, Paul Pelosi, Nancy Pelosi’s son, was engaged with FIVE firms under investigation by the federal government.
According to a DailyMail.com investigation, Nancy Pelosi’s son was engaged in five enterprises that were under investigation by federal authorities — but was never prosecuted himself.
A disturbing paper trail reveals Paul Pelosi Jr.’s ties to a slew of fraudsters, rule-breakers, and convicted felons, according to the investigation.
Two worrisome issues are raised by his years of recurring commercial transactions. When asked why he kept getting linked with such shady persons over and over again, Nancy’s son has been unable to explain. He has also refused to say how engaged he was with the criminal investigations against his fraudulent colleagues.
While Paul Pelosi Jr.’s mother once claimed to lead ‘the most honest, most transparent, and most ethical Congress in history,’ her son has left a stunning trail of criminal associates, fraudulent firms, and federal investigations in his wake, according to his mother.
The following are examples of Pelosi Jr.’s ties to accused lawbreakers:
- The 52-year-old was appointed to the board of directors of a biofuel firm that had deceived investors, according to an SEC judgment, and whose CEO had been convicted of bribing state authorities in Georgia.
- In his previous job as president of an environmental investment business, Pelosi Jr. was revealed to be a front for two convicted fraudsters.
- He became a shareholder in a lithium mining firm and got millions of shares, which were reportedly issued as part of a $164 million fraud scheme.
- He had previously worked as a vice president for a corporation that had been the subject of an investigation into fraudulent phone calls that targeted older persons.
- He has tight business links to a guy who has been charged by the Department of Justice with operating a fictitious United Nations foundation and stealing money from investors.
- According to an FDA inquiry, a medical business for which Pelosi Jr. works tested medications on patients without receiving FDA approval. Pelosi Jr. has never been indicted or charged with any crimes in connection with these incidents.
Some of his business ties, according to individuals close to the Democratic power broker’s son – and even Pelosi Jr. himself – may have resulted from clever businesspeople employing him to court favor with the family’s strong position.
House Speaker Nancy Pelosi is unlikely to be pleased with the list of convicted felons and targets of federal investigations that DailyMail.com has discovered as her son’s business associates, according to the publication.
Even though the influential politician’s son has had several relationships with criminals and accused fraudsters, the powerful politician’s son has never been charged with any crime and has attempted to maintain a squeaky-clean, environmentally conscious image.
In a Men’s Vogue story published in 2007, Nancy Pelosi Jr. was referred to as the ‘rising prince’ of the Pelosi political dynasty.
It was only a few months before that his mother, Nancy Pelosi, had been elected Speaker of the House of Representatives. She was the daughter of a Maryland Democratic Congressman and former Baltimore Mayor. His father was a wealthy financier, and his cousin, current California Governor Gavin Newsom, served as the mayor of San Francisco at the time of his birth.
According to the magazine, Pelosi Jr. lives an austere lifestyle, eating only six eggs for breakfast, never turning on the heat or air conditioning in his San Francisco apartment, taking care not to wash his clothes during peak energy consumption hours, and only driving his old smart car – a hand-me-down from his parents – when taking the city’s electric bus wasn’t an option.
Despite his frugal ways, Pelosi Jr. was certainly not in a financial bind in February 2007. He had just accepted a $180,000 position as Senior Vice President at data company InfoUSA, despite already holding a full-time position as a home loan officer at Countrywide Home Loans in San Mateo and having no prior experience in database marketing.
In papers, it is shown that Paul was the head of an environmental investment business that turned out to be a front for two convicted fraudsters.
A criminal investigation by the Iowa Attorney General’s Office has been ongoing since 2004 into the activities of the corporation, which was managed by a big Democratic contributor named Vinod Gupta.
Investigators said that between 2001 and 2004, InfoUSA intentionally sold millions of customers’ personal information to fraudsters, who then utilized the information to defraud the elderly, stealing a portion of their life savings in the process.
The probe was reported in the New York Times in 2007 when it was revealed that InfoUSA marketed a list of 500,000 gamblers over the age of 55 dubbed ‘Oldies but Goodies,’ which was regarded as ‘gullible’ by the newspaper.
According to the New York Times, InfoUSA also offered names of persons suffering from cancer or Alzheimer’s disease, referred to as ‘Suffering Seniors.’ The data business said that such titles did not appear on its listings.
Iowa investigators discovered emails indicating that InfoUSA employees were aware that the companies to whom they were selling data were under investigation for illegally targeting elderly individuals, yet they proceeded to sell the data nevertheless, according to the state’s attorney general.
Neither Gupta nor InfoUSA was prosecuted as a result of their cooperation with the Iowa investigation against the fraudsters. The inquiry was completed before Pelosi Jr. became a member of the organization.
Following the conclusion of the study, the business said that it had altered its processes and that it had “never classified persons on lists as ‘gullible.’ ” No such lists as “Elderly Opportunity Seekers,” “Suffering Seniors,” or “Oldies But Goodies” are produced by infoUSA.com or its subsidiaries.
At the time, some speculated that Gupta selected Pelosi Jr. to win favor with his influential mother; however, Pelosi Jr. categorically refuted this.
‘I don’t believe that is the case,’ he said in an interview with the news website NewsMax in 2007. Although I do not view it that way, I can see why you would raise the question… ‘I suppose you’ve always wondered why someone would employ you, haven’t you?’
In 2009, Pelosi Jr. was invited to serve as president of Natural Blue Resources, an environmental investment business based in New York City.
As a result of the accusations brought in 2014, Pelosi Jr. was recruited to start the business with former New Mexico governor and attorney general Toney Anaya, according to the indictment.
The company was established to discover and exploit new subsurface aquifers in New Mexico.
In actuality, according to a Securities and Exchange Commission (SEC) investigation, the firm was “secretly managed” by two convicted felons who used Pelosi Jr. and others as a cover to “personally benefit from the company while not revealing their previous brushes with the law to investors.”
According to charges filed in 2014, Pelosi Jr., along with former New Mexico governor and attorney general Toney Anaya, was persuaded to start the business by two ‘consultants’, James Cohen and Joseph Corazzi, who worked together on the firm’s formation.
Cohen had already served time in prison for financial fraud, and Corazzi had been charged with violating federal securities laws and had been forbidden from serving as an executive of a publicly-traded corporation for the remainder of his life.
Pelosi Jr. was not charged even though Anaya was. Pelosi Jr. served as president and board member of Natural Blue from the time of the firm’s public stock market listing in August 2009 to the end of the year, and he also sat on the board of another business owned by Cohen’s wife, which was also publicly traded.
When contacted by DailyMail.com, the Securities and Exchange Commission refused to comment on Pelosi Jr.’s role in the matter.
While the SEC found that Pelosi Jr. had no “meaningful role” in one of the key Natural Blue transactions, it also found that he had “strenuously object[ed]” to proposed fundraising contracts, had been ousted from the board of directors by the accused fraudsters, and had eventually testified against them as a witness for the prosecution.
According to a news announcement from the firm, Pelosi Jr. accepted a position as Vice President of the biofuel startup FOGFuels in October of 2013.
If Pelosi Jr. had done a Google search on his new business partner, he would have realized he was entering the dangerous ground. Only a month before, the Securities and Exchange Commission (SEC) revealed that it had filed charges against the business and its founder, Paul Marshall.
According to a news announcement from the firm, Pelosi Jr. accepted a position as Vice President of the biofuel startup FOGFuels in October of 2013. Only a month before, the SEC revealed that it had filed charges against the firm and its creator, Paul Marshall and that the accusations had been dismissed.
It is claimed in the federal complaint that Marshall stole $3 million from mostly elderly investors in FOGFuels and another of his companies, which he used to fund a variety of Marshall’s expenses, including luxury vacations, child support, and alimony payments, as well as tuition and camp fees for his children at private schools and camps.
An Atlanta, Georgia official was found guilty of bribing municipal officials in return for assistance in securing city contracts for Marshall’s wireless internet firm at the same time as the Marshall case.
Marshall had already promised to cooperate with prosecutors in his $3 million fraud case, and he was not prosecuted in the bribery case because he had previously committed to assisting.
A resolution approving the conversion of waste restaurant grease into biofuel was also passed by the Atlanta City Council, of which Pelosi Jr. served as Vice President at the time.
There was an ethical investigation into the vote, but the deal was never finalized and neither Pelosi Jr. nor the corporation was indicted in the FBI bribery investigation, which was launched in the wake of the vote.
FOGFuels was officially closed down at the end of 2015. Marshal was sentenced to six years in federal prison in 2018 for deceiving investors. He had previously cooperated with the FBI in connection with the bribery investigation. In 2020, he will be freed from prison.
Pelosi Jr. was promoted to two new positions in 2014. In his first position, Pelosi Jr. served as an Independent Director of the Los Angeles-based pharmaceuticals business Targeted Medical Pharma, which was later accused by the Food and Medication Administration (FDA) of conducting unapproved drug trials on humans a year after Pelosi Sr. left the company.
Following SEC filings, Pelosi Jr. resigned from the firm seven months after joining it and removed the FOGFuels job off his LinkedIn profile altogether.
A few days after getting a formal warning letter, the firm informed the FDA that it had “complied with all relevant FDA laws” and had “not breached any rules” since it was not promoting its product Theramine as a medicine in the United States, but rather as “a medicinal food.”
In a statement to DailyMail.com, Targeted Medical Pharma said the FDA’s inquiry was the result of a “clerical error.”
It was determined that no further action will be taken against the corporation by the FDA.
According to prosecutors, Asa Saint Clair (pictured), a New York-based CEO, was conducting a cryptocurrency fraud via his organization, the World Sports Alliance, which they characterized as a sham affiliate of the United Nations in November 2019.
Pelosi Jr. did choose to add a new full-time position to his LinkedIn résumé in October 2014, describing himself as a ‘Business Development Executive’ for the Corporate Governance Initiative (CGI), however, he has subsequently withdrawn the position from his profile.
According to SEC filings, CGI is a “non-profit organization” that is dedicated to “transparency, capitalism, and the development of long-term organization[s],” and Pelosi was elevated to Executive Director of the organization in December 2015.
Ironically, it was via this ethics-focused employment that he was able to form strong relationships with an alleged fraudster who was being investigated by the Department of Justice for allegedly operating a bogus charity.
According to authorities, Asa Saint Clair, a New York-based CEO, was conducting a cryptocurrency fraud via his organization, the World Sports Alliance, which they defined as a “sham affiliate of the United Nations” in November of this year.
In its statement, the Department of Justice said that Saint Clair allegedly misled investors in IGObit, a digital currency that he claimed the WSA [World Sports Alliance] was invented, but that turned out to be the bogus hook with which to ensnare victim investors.
According to prosecutors, the alleged fraudster solicited investors between 2017 and September 2019 by claiming their money would be used to help developing countries around the world – but instead used the money ‘to pay for his expenses, such as dinners at Manhattan restaurants, airline tickets, and online shopping,’ according to the complaint.
Saint Clair, who was apprehended in California while attempting to board a flight to Madagascar through Paris, has been charged with wire fraud and faces a maximum sentence of 20 years in jail if he is found guilty. He has entered a not-guilty plea. His case is set to be heard in court in March of this year.
According to the digital currency’s website, Pelosi Jr. supported the purportedly bogus digital currency in January 2018, saying: ‘IGOBit is the absolute finest deal I have ever seen.’
Publications from Pelosi Jr.’s company, CGI, reveal that the group had strong links to Saint Clair and his suspected fraud charity.
In a press statement issued in December 2016, CGI announced that Saint Clair has ‘formally backed’ the group, declaring that he would be working closely with them and praising Pelosi Jr.
Nancy Pelosi’s son, Paul Pelosi Jr., has been linked to several fraudsters, rule-breakers, and convicted felons, according to a disturbing paper trail revealed by The Washington Post.
- According to a DailyMail.com investigation, Paul, 52, was engaged in five firms that were investigated by federal authorities before, during, or after his tenure at the company.
- According to an SEC judgment, he joined the board of directors of a biofuel firm that had deceived investors and whose CEO had been convicted of bribing Georgia government officials.
- In papers, it is shown that Paul was the head of an environmental investment business that turned out to be a front for two convicted fraudsters.
- He formerly worked as vice president of a firm that was the subject of an investigation into fraudulent phone calls that targeted older persons.
- According to DailyMail.com, a medical business for which Pelosi Jr. works has been accused of testing medications on individuals without the FDA’s permission, according to sources.
- According to a source connected to a company for which Nancy’s son worked, Pelosi Jr. earned $2.8 million in shares reportedly issued as part of a vast $164 million scam in July 2016, according to DailyMail.com.