Timothy Birdnow

Funny how often that happens with Democrats. Look at Hunter Biden, for instance.

Company co-founded by Nancy Pelosi's son charged with securities fraud

From the Washington Times Article:

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.

Posted by: Timothy Birdnow at 08:24 AM | Comments (1) | Add Comment
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