Bob Corker Fannie Mae

CfA Statement on the FBI and SEC Investigation of Sen. Bob Corker

CfA Statement on the FBI and SEC Investigation of Sen. Bob Corker-


Contact: Daniel Stevens, 202.780.5750,

WASHINGTON D.C. – On Tuesday, The Wall Street Journal reported that the FBI and the SEC are investigating Sen. Bob Corker (R-TN) for his lucrative stock trades of real estate investment giant CBL Associates Properties, a real estate company based in Chattanooga, Tennessee.  Federal officials are investigating Sen. Corker’s ties to the company’s executives as well as the company’s accounting practices.  Sen. Corker is close to several top employees at the firm, and he has made millions of dollars by making auspiciously timed trades of the company’s stock.

In November, Campaign for Accountability (“CfA”) called on the SEC to investigate Sen. Corker for his trades of CBL stock.

CfA Executive Director Anne Weisman said, “CfA is gratified to see the FBI and SEC are investigating Sen. Corker.  Sen. Corker’s pattern of buying CBL stock low, selling high, and reaping a huge profit are highly suspicious.  In 2012, as a result of public outcry over potential insider trading by members of Congress, the STOCK Act became law.  The inquiry into Sen. Corker’s actions demonstrates that not even powerful senators are above the law.”

Between 2008 and 2015, Sen. Corker, his wife and daughters made at least 70 trades of stock in CBL – more than triple the number of transactions he made of any other stock.  Some of the trades closely preceded company announcements that led to changes in the stock’s price and seemingly resulted in the senator making millions of dollars.

Further, in March, CfA filed a second complaint against Sen. Corker alleging he concealed information about his stake in several Tennessee hedge funds managed by his campaign donors.  Between 2013 and 2015, it appears Sen. Corker failed to disclose the underlying assets in at least six hedge funds in violation of Senate rules.  In addition, he may have failed to disclose at least $2 million in income from the funds.

Ms. Weismann continued, “Sen. Corker is one of the richest members of the Senate.  The question now is whether he came by that great wealth honestly.”

CfA is nonprofit watchdog organization that uses research, litigation, and aggressive communications to expose misconduct and malfeasance in public life and hold those who act at the expense of the public good accountable for their actions.

Bob Corker Fannie Mae

Bob Corker – your turn


Saved Articles

The Life and Career of Charlie Munger

Charlie is more than just Warren Buffett’s friend and Berkshire Hathaway’s Vice Chairman – Buffett has actually credited him with redefining how he looks at investing. Now you can learn from Charlie firsthand via this incredible ebook and over a dozen other famous investor studies by signing up below:

  • Learn from the best and forever change your investing perspective
  • One incredible tidbit of knowledge after another in the page-turning masterpiece of a book
  • Discover the secrets to Charlie’s success and how to apply it to your investing
Never Miss A Story!
Subscribe to ValueWalk Newsletter. We respect your privacy.

Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up for ValueWalkPremium today and get our exclusive content for 35% off.

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 12/31/2019 or after next 25 subscribers take advantage whichever comes first – please do not share this discount with others