UPDATE: WSJ says that Corker failed to disclose millions of doll - WRCBtv.com | Chattanooga News, Weather & Sports

UPDATE: WSJ says that Corker failed to disclose millions of dollars in profits

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Senate Foreign Relations Committee Chairman Sen. Bob Corker, R-Tenn. speaks to reporters on Capitol Hill in Washington. AP photo Senate Foreign Relations Committee Chairman Sen. Bob Corker, R-Tenn. speaks to reporters on Capitol Hill in Washington. AP photo

UPDATE: A Sunday story in The Wall Street Journal reports that U.S. Sen. Bob Corker failed to disclose millions of dollars in income from various investments since the former Chattanooga mayor took office in 2007.

According to the paper, Corker also filed dozens of corrections to his financial disclosure statements as recently as Friday.

His investments, which included Chattanooga-based mall owners CBL & Associates and hedge funds.

Corker serves as the Chairman of the Senate Foreign Relations Committee and is the third-ranking Republican on the U.S. Senate Committee on Banking, Housing, and Urban Affairs committee, which also controls financial services and real estate public areas of the U.S. economy.

The Journal also says that Anne Weismann, president of the Campaign for Accountability, plans to file a formal ethics complaint against Corker.


PREVIOUS STORY: CHATTANOOGA (AP) — Republican U.S. Sen. Bob Corker of Tennessee made profitable short-term trades in a Chattanooga real estate firm, but didn't properly disclose the deals until challenged by The Wall Street Journal.

The newspaper reports that Corker, a former Chattanooga mayor who is now chairman of the Senate Foreign Relations Committee, bought between $1 million and $5 million in shares of CBL & Associates Properties Inc. in 2011, and sold them again five months later at a 42 percent gain.

Earlier purchases in the names of his daughters in 2009 likely netted more than $1 million, though the paper says the exact gain isn't possible to calculate.

Corker in a written statement to The Wall Street Journal blamed the lack of disclosure required by congressional ethics rules on "filing errors" by his accounting firm.

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