Nancy Pelosi’s son is the second largest investor in a Chinese telecoms company worth $22 million.
It has also been revealed that a senior executive of the company was arrested on suspicion of fraud.
Paul Pelosi’s ties with China have sparked questions as to why he secretly visited Taiwan with his mother.
Reports have revealed he worked in an executive role for the Chinese firm Borqs Technologies. He bought around 700,000 worth of shares in the company which made him the fifth highest shareholder at the time.
“These are shares that were acquired by our officers, directors and affiliates, or that were acquired by our employees or consultants, under an employee benefit plan. Such officers, directors, affiliates, employees and consultants are the selling stockholders identified in the reoffer prospectus,” said the company’s SEC filings in 2021.
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The graph shows Paul Pelosi Jr.’s name alongside 700,000 shares.
When the stock was sold in June 2021, Pelosi Jr., 53, became the second highest shareholder in the $22 million firm although SEC filings in May 2022 did not list Pelosi as a top shareholder, so he may have fallen down the table.
Borqs is an international telecoms company based in China, although its headquarters are in the US. Its website says the company: “creates award-winning wearable devices that provide users with compelling experiences for fitness and tracking for children, adults and the elderly”.
Strangely, Nancy Pelosi’s spokesman, Drew Hammill said that the company had absolutely no ties to China and denied that the company had anything to do with mining lithium.
Perhaps even more strange was that Pelosi Jr. accompanied his mother on her controversial trip to Taiwan earlier this month in semi-secrecy.
In photographs of Pelosi meeting Taiwan’s president, Tsai Ing-wen, a masked Pelosi Jr can be seen lurking at the edge of the images.
Paul Pelosi Jr.accompanies his mother on her trip to Taiwan, the same role for Nancy Pelosi as Hunter Biden played for Joe Biden, enriching the crime family through influence peddling. pic.twitter.com/sOXQ2wWp96
— 🇺🇸RealRobert🇺🇸 (@Real_RobN) August 6, 2022
His presence was not officially announced in relation to the visit which sparked major military tensions between Taiwan and China, but the house speaker did finally admit that her son had “escorted” her during the visit in a press conference after the event.
It comes after the Chinese government announced that Pelosi and her “immediate family members” would face unspecified sanctions for going ahead with the diplomatic visit to Taiwan despite warnings from Beijing.
The latest revelations of Pelosi Jr.’s ties with a Beijing firm could cause Pelosi serious problems (if she hasn’t enough already) as she attempts to mitigate tensions between the US and China and patch up the huge holes she insensitively blasted in the US’s diplomatic communications with Beijing.
Her hypocrisy in relation to China is eye-watering. While she turns a blind eye as her son buys large amounts of shares in Beijing-based companies, Pelosi has always pushed an anti-China agenda.
In 2020, she backed a bipartisan bill that block numerous Chinese companies from trading on the US stock exchange.
A spokesperson for Pelosi insisted that nothing underhanded took place, that Pelosi Jr. had traveled “at no expense to the taxpayer”, adding that as “per decades-old policy, spouses and adult children are allowed to travel on Congressional delegations for representational purposes.”
But this isn’t the first or only time Jr. has rubbed shoulders with Beijing, despite his publicly mother’s anti-China stance.
In 2016 he Tweeted a photograph of himself with the (then) secretary of state John Kerry while the pair visited Beijing. He wrote:
“China-United States Summit: Americans Pleasantly Surprised and Welcome in Beijing, China.”
He also Tweeted a photo of himself at a Chinese tourism event in San Francisco along with the caption:
“Big Saucer-Eyed China Hears Universe, Happy 67th Birthday People’s Republic of China #soldierforchange #China”.