Pelosi's son, who traveled with her to Taiwan, owns investme...| MENAFN.COM

Tuesday, 04 October 2022 06:25 GMT

Pelosi's son, who traveled with her to Taiwan, owns investment in Chinese technology


(MENAFN) According to a recent Daily Mail story, Paul Pelosi Jr., son of House Speaker Nancy Pelosi, is the second-largest shareholder in Chinese telecom company Borqs Technologies. Prior to traveling to Taiwan with his mother on a taxpayer-funded trip, the younger Pelosi kept his ownership in the $22 billion corporation a secret.

Several Taiwanese politicians, including the former chair of the island's financial supervisory commission, Tseng Ming-chung, have demanded to know whether the island's ruling Democratic Progressive Party had a financial relationship with the Pelosi family and whether the congresswoman's visit involved business interests after learning that Pelosi Jr. had joined his mother's delegation. The younger Pelosi was not named in the delegation and did not hold any official positions or have any other specified responsibilities.

According to information from the US Securities and Exchange Commission released to the Daily Mail, Pelosi has not only invested a significant amount of money in the Chinese internet-of-things and 5G company Borqs, but she has also served as a consultant for the company. According to the article, he received 700,000 shares of the company as payment for his services, making him the second-largest shareholder behind CEO Pat Sek Yuen Chan.

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