Nancy Pelosi’s Son Company He Co-Founded Charged With Securities Fraud!

Rep. Nancy Pelosi didn’t become a millionaire on her House salary; she had some help.

I am not claiming that Pelosi is corrupt, but then again I am. She was not a millionaire when she entered Congress over 200 years ago, but now she is a millionaire 100 times over at her Congressional salary does not add up.

Pelosi’s son, Paul,  co-founded a company called Natural Blue Resources, which is now under scrutiny by the Securities and Exchange Commission (SEC) after two individuals that were running the company was found to be convicted criminals.

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Paul Pelosi Jr., the son of House Minority Leader Nancy Pelosi (D., Calif.), was the president and chief operating officer of Natural Blue Resources Inc., an investment company he cofounded that focuses on “environmentally-friendly” ventures.

The SEC charged four individuals with fraud, including former New Mexico Gov. Toney Anaya, and suspended trading in the company’s stock. Pelosi owned over 10 million shares in the company in 2009.

The SEC said Wednesday the company was “secretly controlled” by James E. Cohen and Joseph Corazzi, both of whom had previous fraud convictions. Corazzi violated federal securities laws and was barred from acting as an officer or director of a public company. Cohen was previously incarcerated for financial fraud.

Cohen and Corazzi said they were “outside consultants,” but according to the SEC, they actually controlled Natural Blue’s business decisions “without disclosing their past brushes with the law to investors.” The pair made hundreds of thousands of dollars off the company.

Source: Washington Times

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Bloomberg Businessweek claimed that Pelosi’s son served as National Blue Resources, Inc., President along with the additional title of COO until 2010. But The Mountain View Telegraph claims Pelosi was still named President last year. Doesn’t it look like someone was moving around titles so things wouldn’t get sticky, huh?

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