Incredibly bad luck in choosing his business "opportunities"; bad judgement; or scions of powerful politicians don't get busted: take your pick
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paul pelsoi, jr., and “the big guy”
Nancy Pelosi’s son has a history going back decades of doing business with fraudsters*, ordinary thieves, and gangsters. “But he was never charged”.
Five tries, five crooked deals. Hmmm. And was he welcomed by these crooks because of his unique talents, or because of who his mother was? We’ll have to ask Hunter that.
As for Junior never being charged, here’s a little vignette from my law career, circa 1982: I was one of a dozen lawyers “volunteered” by the federal court to serve as pro bono defense lawyers for a bunch of clam diggers up in Damariscotta, ME, caught up in a marijuana smuggling operation.
The weed — tons of it, came in on a ship that the DEA had been monitoring since it left its berth in South America. It came into a secluded harbor and pulled alongside a wharf on property belonging to the Speaker of the Maine House of Representatives. Lights in the house were seen switching on and off, signaling to the approaching ship.
The feds swooped in, arrested all the local clammers who’d been recruited to unload the cargo, and six mid-level dealers from Boston who’d come up to supervise. When the cops entered the Speaker’s house, however, they found just one occupant, the Speaker’s son. The clammers all pled to a deal that netted them 18 months apiece, the mid-levelers got 3-10, depending, and the guy at the light switch not only wasn’t prosecuted, he wasn’t even arrested.
If the feds will show such solicitude for the child of a minor political figure from a backwater state, how much more care will they take to protect the wayward son of a powerful, national politician?
Again, we’ll just have to ask Hunter.
The Securities and Exchange Commission (SEC) charged a company cofounded by Paul Pelosi Jr. with fraud on Wednesday after learning that two convicted criminals were running the business.
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.