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Hacker News·Aug 5·5 min read
Pam Bondi Implicated in as Much as $5.5M in Insider Trading
TL;DR
Pam Bondi is implicated in potentially illegal insider trading involving $5.5 million in Trump Media securities, sold just before a significant market decline. Despite the serious allegations, no investigation has been initiated against her.
✦ Why It Matters
Consider advocating for stricter regulations on insider trading to ensure accountability in financial markets.
Key Takeaways
- Investigate the timing of Bondi's stock sale.
- Understand the implications of the Martin Act for securities fraud.
- Engage with local representatives to demand accountability.
- Monitor developments in insider trading cases for future reference.
Full Summary
Pam Bondi sold between $1 million and $5 million in Trump Media shares on April 2, 2025, just hours before a tariff announcement that negatively impacted the stock. This sale occurred within a 90-day divestment requirement following her confirmation as attorney general, but the timing raises suspicions of insider trading, a felony that can carry severe penalties.
Despite a referral for investigation by a House Judiciary Committee member, no action has been taken by federal authorities, leading to calls for New York prosecutors to intervene. The article highlights the lack of accountability in the federal system, suggesting that state laws could still apply.
New York's Martin Act allows for prosecution of securities fraud, and the statute of limitations extends until 2030, providing a window for legal action against Bondi.