Sen. Bob Corker Failed to Properly Disclose Millions of Dollars in Income

[babylonsister]

http://www.wsj.com/articles/sen-bob-corker-failed-to-properly-disclose-millions-of-dollars-in-income-1450051046

Sen. Bob Corker Failed to Properly Disclose Millions of Dollars in Income
Tennessee Republican files amendments to reports going back to 2007; ‘I am extremely disappointed in the filing errors’
By Brody Mullins
Updated Dec. 13, 2015 7:24 p.m. ET


WASHINGTON—Sen. Bob Corker failed to properly disclose millions of dollars in income from real estate, hedge funds and other investments since entering the Senate in 2007, according to new financial reports filed by the Tennessee Republican.

Mr. Corker late Friday filed a series of amendments showing that his personal financial reports as originally filed included dozens of errors and omissions. The new filings came after The Wall Street Journal asked the senator’s office about some irregularities in his prior financial reports.

The senator is the third-ranking Republican on the Senate Banking Committee, which oversees the real-estate and financial-services sectors.

The new forms show that Mr. Corker had failed to properly disclose at least $2 million in income from investments in three small hedge funds based in his home state. He also didn’t properly report millions of dollars in income from commercial real-estate investments due to an accounting error. And he didn’t disclose millions of dollars in other assets and income from other financial transactions.

A letter sent to the secretary of the Senate along with the new financial reports acknowledged that the senator’s previous reports didn’t comply with Senate rules.

snip//

The Journal’s calculations were made using a very conservative methodology using the low end of the numerical ranges in which senators are required to disclose their finances. The actual numbers are likely higher.

[HassleCat]

1. This should be good

"My accountant couldn't find all that income, but a newspaper reporter located it easily enough. This illustrates the need to reform the IRS."

[saturnsring]

2. so .. who's going to jail?

[Bluzmann57]

3. What?! A repuke lies!?

I'm shocked I tell ya. Oh wait...

[dembotoz]

4. wasn't it evertte dirksen who said -a million here a million there pretty soon youre

are talking about real money....

[hobbit709]

5. ‘I am extremely disappointed in the filing errors’

TRANSLATION: I'm disappointed I got found out.

[malaise]

9. Fucking corrupt SOB

This is madness.

[gratuitous]

6. On the Senate Banking Committee

That explains one or two things. I like how Sen. Corker's $2 million in income is characterized as being from "three small hedge funds," which makes it sound like losing a pocket full of change in the couch cushions.

I know what the penalty for the little people would be for "failing to disclose" something so that a person could scam the system for the princely sum of $150 in SNAP benefits. I presume Sen. Corker will face no sanction whatsoever for his millions of dollars in oversights and oopsies.

[Erich Bloodaxe BSN]

7. Millions of dollars in 'accounting errors'?

He's wasting his time in the Senate, with a record like that, he should be running for the White House.

[Octafish]

8. Funny how sorry they are when caught.

I wonder what else Corker's not sorry about yet?

[ChisolmTrailDem]

10. Those weren't "accounting errors", the were criminal errors. nt

[Munificence]

11. No they

are not.

To you and I they may be, but to them, ah they only make the rules and enforce us to live by them...they are exempt....every damn one of them, including 95% of the ones we elect.