Insider Trading
Congress Profits Off Crises …
Trading App Founder Says
Published
TMZ.com
Insider trading is rampant on Capitol Hill and there needs to be new laws on the books to level the playing field … so says a trading app founder who would lose his business if a major change ever happened.
Chris Josephs runs Autopilot, a trading app that lets regular folks copy stock trades made by some of Congress’ most prescient portfolios, and he joined us on “TMZ Live” Thursday to tell us why he’s confident Congress is using insider information to make a killing on the stock market.
Nancy Pelosi and Marjorie Taylor Greene are some of the alleged insider traders, and Chris says politicians from both sides of the aisle love to profit off crises … he says it happened when the housing bubble burst, when Covid hit … and is ramping up again with President Trump flip-flopping on tariffs.
Chris says average folks have invested $500 million into his app and he stands to lose the biz if he gets his wish … but that’s not stopping him from calling for new laws to tackle insider trading in Washington, D.C. The issue is super important to him, and others in government agree on the need.
There’s one law on the books now, but as Chris explains … it’s not an effective deterrent … and he tells us why transparency is the best policy — lawmaker or not — when it comes to managing portfolios.
Watch the full interview today on “TMZ Live.”
