- Associated Press - Wednesday, November 4, 2015

CHATTANOOGA, Tenn. (AP) - Republican U.S. Sen. Bob Corker of Tennessee is blaming his accounting firm for making “filing errors” in disclosures about the Republican’s trades in shares in a hometown real estate firm.

The Wall Street Journal reported Wednesday that Corker didn’t properly disclose the dates he bought shares of CBL & Associates Properties Inc. in Chattanooga.

The newspaper reports 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 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.

“I am extremely disappointed in the filing errors that were made in these earlier reports where the accounting firm mistakenly used realized gain/loss methodology instead of the Senate financial disclosure guidelines,” Corker said in a statement to the Wall Street Journal.

There are no penalties for correcting disclosures, and it happens frequently because ethics regulators want to encourage lawmakers to fix mistakes.

After graduating from college, Corker worked for a company that constructed buildings for CBL before launching his own construction company. CBL did not respond to the newspaper’s requests for comment.

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