Corker failed to disclose millions in Chattanooga earnings: WSJ - WRCBtv.com | Chattanooga News, Weather & Sports

Corker failed to disclose millions in Chattanooga earnings: WSJ

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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

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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